World’s largest luxury group LVMH posts better than feared full-year sales

The world’s largest luxury company LVMH on Tuesday reported better-than-expected full-year sales, in the strongest sign yet of a potential turnaround in the high-end sector.

The owner of brands including Louis Vuitton, Moët & Chandon and Hennessy posted revenues of 84.68 billion euros ($88.27 billion) for 2024, versus the 84.38 billion euros forecast by LSEG analysts.

The French luxury goods giant is seen as a bellwether for the wider luxury industry, which has faced significant pressure over recent years amid declining China sales and broader macroeconomic headwinds.

This is a breaking news story and will be updated shortly.