LVMH reported that demand for its high-fashion brands, including Fendi, which has just shown off its spring ranges in Milan, had delivered an encouraging rise in revenues victor boyko/Getty ImagesSome retailers may be feeling the squeeze, but not the world’s biggest luxury goods company. LVMH, home to labels including Christian Dior and Moet & Chandon, delivered a better-than-expected rise in revenues of 12 per cent to €30.1 billion for the first nine months of the year, after currencies and acquisitions. LVMH, which is run by Bernard Arnault, the French billionaire, has ridden the sector’s recovery in part thanks to its wide array of brands in a luxury goods industry where clients can be fickle. Luxury goods makers have enjoyed a revival in Chinese appetite for watches, fashion and wines and whiskys in the past year after a downturn. Revenue growth in its spirits and wines division eased to 4 per cent between July and…

Source: The Times October 09, 2017 23:03 UTC