The world’s biggest luxury retail group, LVMH, beat forecasts recently. It has recorded a 14 percent increase in comparable third-quarter sales. This was mainly triggered due to the solid revival of its fashion, wines and champagne businesses.

The company which is the first major European luxury group to publish third-quarter figures has confirmed lately the industry’s stronger-than-expected rebound. This was powered partly due to the expansion in China and a weak euro that attracted tourist shoppers.

Like-for-like sales growth of 11 percent was expected by analysts as compared to a three percent drop in 2009 (that was the worst year for the luxury goods industry in more than two decades)

“LVMH is one of the best ways to play the emerging markets consumer as more than 40 per cent of its sales come from luxury buyers from emerging markets, especially Asia, if you include tourist shopping in cities like Paris, New York and Milan,” said Juan Mendoza. He operates a $190m (£119m) Luxury Goods Equity Fund for Clariden Leu, the mature investment fund business of Credit Suisse. “Sales growth exceeded very high expectations,” he added.

The company stated that development of business in China in the third quarter was almost the same as during the first half, or 26-27 percent in local currency.