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Luxury giant LVMH says third quarter sales grew by 20% By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: After the May 28th, 2020 outbreak of COVID-19 in France, clients line up at a Louis Vuitton boutique in Paris, while wearing masks to protect their faces. REUTERS/Go

PARIS (Reuters) – Sales of French luxury firm LVMH grew 20 percent in the third quarter. The growth was driven by consumers’ desire to buy high-end clothing after months spent in a state of emergency.

LVMH, which sells a range of luxury products spanning Moët & Chandon champagne and Bulgari timepieces, said on Tuesday like-for-like sales, stripping out the effect of foreign exchange fluctuations, rose to 15.51 billion euros ($17.90 billion) in the three months to September.

According to analysts’ consensus, growth would rise by 21% according to the cited report Barclays After a strong second quarter that saw revenue rise by 84%, (LON)

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