LVMH sales beat expectations, driving luxury stocks higher
Shares of LVMH surged 12–13% on Wednesday after the luxury giant reported better-than-expected Q3 sales, fueled by a rebound in Chinese demand, sparking a sector-wide rally.
Luxury peers, including Hermes, Kering, Richemont, Burberry, and Moncler, also rose between 5% and 7%. Analysts noted the results signal a continued recovery for the luxury market, with sales exceeding expectations across all divisions, News.Az reports, citing Reuters.
This marks LVMH’s first growth quarter of the year, boosted by innovative store experiences like Louis Vuitton’s ship-shaped boutique in Shanghai. Chinese luxury consumption, previously slowed by the property crisis, is now showing positive momentum.
Asia (excluding Japan), dominated by China, accounted for 28% of LVMH’s annual turnover last year, underscoring the region’s importance to the sector.
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