LVMH sales fizzing as the high life goes on

Louis Vuitton handbags, Hennessy cognac and Dom Perignon champagne are still much in demand by those with a taste, and a wallet, for the high life.

Luxury goods giant LVMH showed today that at least one end of the market is immune to the slowing economy.

In the three months to September, sales rose 15% to 6 billion (£5.25 billion), a result that was better than analysts expected. "The third quarter showed a continuation of the trend evident since the start of the year," LVMH said in a statement. "The momentum continued in Asia, Europe and the United States, while Japan returned to growth over the period."

LVMH says it is confident in the short-term future, having "achieved exceptional progress around the world".

The comments by LVMH echoed those of British luxury goods group Burberry, which said last week it had seen "consistent strong brand momentum and business growth" and that there was no evidence of a slowdown so far.

LVMH's wines and spirits division had 11% growth. Its champagne brands, which include Moët & Chandon and Dom Perignon, "benefited from the dual effect of sustained demand and a favourable product mix", LVMH said.