With most stores only just beginning to open and tourism still nowhere near normal, that LVMH fashion has already returned to double-digit growth is pretty huge:
Author:Dhani MauPublish date:Oct 16, 2020With stores and production sites closed and travel halted, the second quarter of 2020 was a tough time for luxury brands. The industry's two biggest, strongest conglomerates were suddenly looking at double-digit declines: LVMH saw a 38% drop in comparable sales, Kering a 43.7% drop . That was despite some growth in online sales as consumers shopped from home, and a rebound in China, which had largely recovered from the pandemic by then.
With most stores only just beginning to open and tourism still nowhere near normal, that LVMH fashion has already returned to double-digit growth is pretty huge. Because they make up much smaller portions of revenue, LVMH is even more vague about the brands that aren't Vuitton or Dior, which it literally just refers to as "other brands." Though, it did call out three as having shown "big improvement" during Q3: Fendi , Loewe and Celine. News-wise, the company highlighted Matthew Williams' debut collection for Givenchy, which it said was "well-received" .
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