Luxury goods giant LVMH set to bag a bumper quarter
Luxury goods giant LVMH is preparing to pack a quarter
Star attraction: Euphoria actress Zendaya, who is promoting Louis Vuitton
Luxury goods giant LVMH is set to post a stellar quarter tomorrow as shoppers snap up designer handbags.
LVMH, which owns Louis Vuitton and Tiffany and Co, is expected to post a 1 percent rise in revenue in the three months to the end of September after strong sales at its leather and fashion houses, according to Bloomberg.
Designer goods are relatively resistant to high inflation.
LVMH became the first company in Europe to surpass a market capitalization of $500bn (£409bn) this year, but has since returned to a valuation of £316bn.
Sophie Lund-Yates of Hargreaves Lansdown said LVMH could feel pressure amid uncertainty in the Chinese economy, adding: “Investors want to hear whether (this) has shaken LVMH’s expectations for holiday trading.”