A strong performance from the Louis Vuitton brand helped nudge up first quarter sales at luxury goods group LVMH by 0.4% to €4 billion (£3.57bn).
However comparable group sales fell by 7% over the quarter ended March 31 but the group said it continued to gain market share.
But LVMH’s fashion division performed better, with total sales up 11% to €1.59bn (£1.42bn). Comparable sales rose 4%.
The group said that its Louis Vuitton brand had achieved record revenue growth across all geographical zones, with particularly notable performances in Europe, Asia and the US. Revenues rose double-digits during the quarter, in spite of the difficult economic climate.
LVMH’s first quarter success was led by the Damier Graphite line, which launched last year, and the collaboration between Marc Jacobs and Stephen Sprouse.
LVMH said that Marc Jacobs had continued on its growth trajectory thanks to good momentum in accessories and licensing. Its Givenchy brand recorded good sales in ready-to-wear.