LVMH, the world’s biggest luxury group, showed little sign of weakening demand for its high-end handbags and champagne in the third quarter despite growing fears over the global economy.
The company controlled by Europe’s richest man, Bernard Arnault, reported quarterly sales of €19.8bn on Tuesday, ahead of analysts’ expectations for €19.1bn, according to FactSet data.
When stripping out the effect of acquisitions and currency swings, sales were up 19 per cent from the same period last year and matched the pace of expansion in the second quarter.
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