Fashion sales at French luxury goods group LVMH rose slightly during the first quarter although at a slower rate than the business’ previous performance.
Total sales at the group, which is the parent company of brands including Bulgari, Louis Vuitton and Celine, rose by 6% in the three months to the end of March, as like-for-like sales increased by 7% to €6.9bn (£5.9bn).
LVMH delivered strong growth in Asia and the US and said that Europe had demonstrated “good resistance despite a challenging economic environment”.
Like-for-like sales across LVMH’s fashion and leather goods arm rose 3% as total sales rose by just 0.4% to €2.4bn (£2bn).
This was a slow-down in the growth the group reported for last year when sales across LVMH rose by 19% and fashion sales increased 7%.
In a statement the company said luxury label Louis Vuitton had “continued its progress” by offering customers the “highest quality and best service”.
LVMH added: “Fendi benefited from continued developments in fur and leather and pursues its program of enlarging its store network. Céline made excellent progress in its own stores.”