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.



Saudi 100 Brands Returns to Paris Fashion Week

Saudi 100 Brands Returns to Paris Fashion Week
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Saudi 100 Brands Returns to Paris Fashion Week

Saudi 100 Brands Returns to Paris Fashion Week

The Saudi Fashion Commission will present homegrown talents at Paris Fashion Week, held from June 24 to 27 on the fifth floor of La Samaritaine. The exclusive showroom dedicated to Saudi 100 Brands will highlight 11 trailblazing designers and their Spring–Summer 2026 collections.

This exceptional showcase, spearheaded by the Fashion Commission and its flagship Saudi 100 Brands program, aims to foster meaningful cultural exchange through contemporary Saudi fashion, the Saudi Press Agency (SPA) reported. It represents a key step in a long-term vision to establish the Kingdom as an essential presence in the global fashion industry.

CEO of the Fashion Commission of Saudi Arabia's Ministry of Culture Burak Çakmak said that the return of the Saudi 100 Brands program to Paris Fashion Week reflects a commitment to showcasing Saudi creativity at the highest levels.

He noted that the platform not only presents designers to a global audience but also deepens connections with the international fashion community, reinforcing the vision of making the Kingdom a driving force in shaping the future of fashion and fostering meaningful global partnerships.

CEO of Tranoï Boris Provost stated that Saudi fashion is experiencing remarkable momentum, expressing pride in the creative energy showcased by the Saudi 100 Brands program at Tranoï.

According to SPA, he highlighted the exhibition's role in presenting emerging talents on a global scale, noting that the collaboration with the Saudi Fashion Commission perfectly embodies this mission by providing an international stage for a new generation of designers in Paris, the fashion capital of the world.

The Saudi 100 Brands program is a long-term strategic initiative by the Saudi Fashion Commission. It aims to support generations of Saudi brands and contribute to the development of a sustainable local fashion industry.