Luxury group LVMH has reported sales revenues of €10.6 billion for the first three months of 2020. This represents a drop of 15% compared to the same quarter last year.

Its leathergoods division brought in more than €4.6 billion, down by 9% year on year.
However, the group said it had proven its ability to be “resilient” in an economic environment disrupted by the covid-19 crisis that has led to the closure of stores and manufacturing sites and the suspension of international travel. 

Chief executive, Bernard Arnault, said LVMH would “emerge even stronger” when the crisis is over.

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