LVMH’s Louis Vuitton beats forecast as luxury demand strengthens

Sales of Louis Vuitton products soared more than expected as lockdowns easing across the world enabled stores to reopen and spurred demand for luxury handbags.

Organic revenue at LVMH’s fashion and leather goods unit rose 113% in the second quarter, the group said in a statement Monday. Analysts had expected a gain of 111%. LVMH also benefited from an easy comparison as many stores remained shut last year due to pandemic restrictions.