Luxury goods maker LVMH announces higher revenues for first 9 months

The world's largest maker of luxury goods, LVMH Moët Hennessy Louis Vuitton, has reported revenues of 56.5 billion euros (54.9 billion dollars) in the first nine months of 2022, a 28% increase compared to the same period of 2021.
Europe, the US and Japan "benefitted from the solid demand of local customers and the recovery in international travel," the company said in a Tuesday statement.
Asia meanwhile saw a lower level of growth over the first nine months of 2022, the the luxury goods maker said, "though growth in the latest quarter accelerated there due to the partial easing of health restrictions."
Organic revenue growth was 20% across the 9 months, 19% in the third period.
LVMH's Wines & Spirits segment reported revenue growth of 23% over the first nine months of 2022, its Fashion & Leather Goods segment's growth was 31%, the Watches & Jewelry business group's revenue growth was 23% and the Perfumes & Cosmetics business had a growth of 19% in the same period.
LVMH said it is confident in the continuation of current growth and will maintain a policy of cost control and selective investment.