Luxury group LVMH has reported revenues of just under €20.7 billion for the first quarter of 2024, a fall of 2% compared to the same quarter last year.

Its leathergoods and fashion division contributed nearly €10.5 billion to the group total, also down by 2% year on year.

The group said its biggest brand, Louis Vuitton, had made “an excellent start to the year, once again buoyed by the creativity and quality of its products”.

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