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The French leather goods producer has reported strong sales growth in Asia, at a time when the luxury sector is hit by an economic slowdown in the region, coupled with strong demand in Europe.
Longchamp has posted a 10% rise in revenues at constant currencies for fiscal 2015, representing €566 million, higher than its 8% growth in 2014.
According to the company, its sales growth benefited from the opening of new retail stores in Asia and solid demand in Europe. The Chinese now represent the brand’s second-biggest customer behind the French.
Three stores have been opened in mainland China bringing the total number to 25, and sales in the country are said to have risen to 30% at constant currencies.
However, Longchamp has reported a drop of 20% in sales in Paris for the November- December period following the attacks on the French capital. The company expects it will take a few months for tourists to return after some cancelled trips.
Source: Reuterscomments powered by Disqus