The country has proven to be a standout market for LVMH across every product category for the luxury-goods retail group in H1.
While sales in Europe and the Americas suffered from long drawn-out disruption due to Covid-19, signs are more positive in Mainland China and even point towards a recovery.
The company marked that Asia has seen a marked improvement in trends, with a strong rebound in China in particular.
“LVMH showed exceptional resilience to the serious health crisis the world experienced in the first half of 2020,” added Bernard Arnault, LVMH’s Chairman and CEO. “Our maisons have shown remarkable agility in implementing measures to adapt their costs and accelerate the growth of online sales.”
Its flagship fashion & leather-goods business group reported a 24 per cent decline in organic sales for the half year, but China recorded “a very strong recovery in revenue in the second quarter.”
