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LVMH fashion revenues soar

French luxury group LVMH recorded a surge in fashion and leather goods sales during the first quarter of 2018, amid an ongoing shake-up within its brands.

Sales in its fashion and leather sales division rose by 16% on a “comparable [consolidation] and exchange rates” basis to €4.3bn (£3.7bn) during the three months, compared with Q1 2017.

The group did not disclose breakdowns by brand, but said its Louis Vuitton label had a “remarkable” start to the year, in which Virgil Abloh was named as its new men’s artistic director.

LVMH also cited an “excellent performance” from Christian Dior Couture, which has since drafted in Abloh’s predecessor Kim Jones as artistic director of Dior Homme. It took full control of Christian Dior Couture from its minority shareholders in 2017.

The group also referenced rapid growth in its ready-to-wear and footwear offerings at labels Fendi and Loro Piana.

Revenues grew by double-digit percentages across all of its sectors, which include watches and jewellery; perfumes and cosmetics; and wines and spirits.

Group revenue reached €10.9bn (£9.5bn) during Q1 2018, up 13% on the previous year.

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