LVMH leathergoods division returns to growth in Q3
Luxury group LVMH has reported revenues of €30.3 billion for the first nine months of 2020, a 21% decline compared to the same period last year.
In the third quarter the overall decline for the group was 7%, which LVMH described as “significant improvement”.
Its leathergoods and fashion division contributed €13.9 billion in the January-September period this year, which is a decline of 11% year on year. However, in the third quarter of the year, this division recorded growth of 12% compared to the same quarter in 2019.
“The third quarter saw a strong rebound in activity, with double-digit organic revenue growth,” the group said of the leathergoods part of the business. “Louis Vuitton continued to display exceptional momentum and creativity in all areas, from products to shows and customer events.”
