LVMH Q2 Sales Climb 19%, Offsetting Slower China

A logo of LVMH is seen at its exhibition space, at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 15, 2022. (Reuters)
A logo of LVMH is seen at its exhibition space, at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 15, 2022. (Reuters)
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LVMH Q2 Sales Climb 19%, Offsetting Slower China

A logo of LVMH is seen at its exhibition space, at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 15, 2022. (Reuters)
A logo of LVMH is seen at its exhibition space, at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 15, 2022. (Reuters)

Sales at LVMH, the world's largest luxury group, rose by 19% in the three months to June, as robust growth in the US and China helped it offset a new round of lockdowns in China.

LVMH, which owns dozens of high-end labels such as Tiffany, said sales came to 18.73 billion euros ($18.95 billion) in the second quarter, beating analyst expectations for 17.13 billion euros in a Visible Alpha consensus cited by UBS.

The growth pace in the second quarter was a tad slower than in the first three months of 2022, when group sales had climbed by 23%.

Demand for fashion and leather goods from its star labels Louis Vuitton and Dior eased up slightly from high levels at the start of the year, rising by 19% in the quarter, as flows of travelling shoppers returning to Europe helped to mitigate disruptions to business in China.

LVMH has been tapping into strong, post-pandemic demand for its designer labels as socializing resumes and shoppers continue to spend savings from lockdowns, brushing off concerns about turbulent stock markets and rising prices.

The company's strong second quarter is setting the tone for rivals, with Gucci-owner Kering reporting its own first half results on July 27 and Hermes on July 29.



Dior Appoints Jonathan Anderson as Design Chief for Women’s Wear and Haute Couture 

A security guard looks out from the store of French luxury goods company Dior on 5th Avenue in New York City, US, May 23, 2025. (Reuters)
A security guard looks out from the store of French luxury goods company Dior on 5th Avenue in New York City, US, May 23, 2025. (Reuters)
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Dior Appoints Jonathan Anderson as Design Chief for Women’s Wear and Haute Couture 

A security guard looks out from the store of French luxury goods company Dior on 5th Avenue in New York City, US, May 23, 2025. (Reuters)
A security guard looks out from the store of French luxury goods company Dior on 5th Avenue in New York City, US, May 23, 2025. (Reuters)

Dior is appointing its menswear designer Jonathan Anderson to also head womenswear designs and haute couture, replacing Maria Grazia Chiuri and widening his role as it seeks to reignite sales, the LVMH-owned label said on Monday.

"Jonathan Anderson is one of the greatest creative talents of his generation. Its unique artistic signature will be a key asset for writing the next chapter of the Dior house's history," LVMH CEO Bernard Arnault said in a statement.

The French fashion house named Anderson, 40, in April as head of menswear designs, recruiting him from smaller LVMH label Loewe.

The award-winning Irish designer generated buzz around Loewe over the decade he spent at the Spanish label, thanks to quirky designs that caught the attention and praise of fashion critics.

Signature styles under his tenure include baggy, barrel-legged jeans priced at 800 euros ($909.92) and the compact Puzzle handbag, which sells for around 3,000 euros.

Anderson, whose departure from Loewe was announced in March, is one of several new high profile designers taking over some of the world's biggest fashion labels amid a wide-sweeping industry overhaul, including Chanel and Gucci.

The sector is struggling to pull out of a prolonged slump, weighed down by China's property crisis and economic uncertainty in the United States.

Top luxury houses are betting on new design direction to help rekindle interest from shoppers, who have pulled back on fashion as prices rise.

In his new role, Anderson succeeds Chiuri, 61, who was recruited in 2016. The first female creative director at the label, Chiuri relayed feminist messages and showcased artwork at her runway shows, which featured modern renditions of house classics, including Dior's famous, nipped-waist bar jackets, adding fluidity and sometimes a sporty flair to feminine gowns.