LVMH brushes off slowdown

LUXURY goods firm LVMH saw sales surge 11pc in the first three months of 2018 – scotching investor fears of a slowdown in the market.

The firm – behind everything from Veuve clicquot champagne to Louis Vuitton clothing and Bulgari jewellery – posted sales of £10.8bn in the quarter, with its fashion brands leading the charge.

Bosses said there had been exceptional performance at Louis Vuitton and christian Dior. New products included trainers and saddle bags by Dior designer Kim Jones.

Analysts had feared that a global economic slowdown might hit demand for luxuries.

Watches and jewellery were the weakest performers for LVMH, with growth of just 4pc. Watchmakers have taken a hit from tech competitors such as Apple.