What: Despite growing concerns regarding a global recession, LVMH remains bullish on the future due to a 19% increase in revenues.

Why it is important: After the close of the Paris Bourse, LVMH reports a 28% increase year-over-year for the first nine months of 2022 which was driven by the fashion and leather goods division. The outlook for the final quarter of 2022 remains positive as the luxury conglomerate expected continued growth.

Europe, the US and Japan benefitted from strong local demand and an upturn in tourism leading to positive performance in the third quarter. Asia is also improving as COVID-related restrictions partially lift. However, LVMH’s CFO warns of China’s recovery being uncertain as lockdowns and supply chain disruptions continue. In addition, a distinction must be made between affluent customers and the brands that serve them as not reflecting the general economy due to being less affected by NGDP volatility.

LVMH reports revenue growth in Q3