LVMH Moët Hennessy Louis Vuitton trumpeted an “excellent start” to 2023, reporting revenues in the primary quarter jumped 17 percent due to robust demand for leather goods, and sharp increases at Sephora and DFS.

Revenues on the world’s largest luxury conglomerate totaled 21.04 billion euros for the three months ended March 31, despite “a geopolitical and economic environment which stays uncertain.”

The numbers mark an acceleration from the fourth quarter, when sales gained 15 percent, but got here in a shade down from the 19 percent logged within the third quarter of 2022.

All business divisions except wines and spirits recorded double-digit gains in the primary quarter, with LVMH citing “strong growth momentum” in Europe and Japan due to each local customers and international travelers, and a “regular performance” within the U.S., which continues to grow.

“Asia experienced a big rebound following the lifting of health restrictions,” the corporate noted in a statementy issued after the close of trading on the Paris bourse. The corporate had been banking on a recovery in China following President Xi Jinping’s decision to reverse strict COVID-19 restrictions.

LVMH is to host a video conference Wednesday evening Paris time to elaborate on its performance.

Revenues in the style and leather goods division, headlined by its star mega-brands Louis Vuitton and Christian Dior, rose 18 percent, with the corporate crediting the “exceptional creativity and the standard” of Vuitton’s offering and noting that Dior performed “remarkably well across all its products.”

“Celine continued to enjoy very strong growth due to the success of Hedi Slimane’s creations and his powerful vision,” LVMH added. “Loewe, driven by the daring creativity of [Jonathan] Anderson, unveiled a latest collaboration with Studio Ghibli. Fendi opened latest stores in Tokyo and Seoul. Loro Piana, Rimowa, Marc Jacobs and Berluti also had a wonderful begin to the yr.”

Barclays had forecast 11 percent growth within the FLG division, and HSBC a 15 percent bump in overall LVMH totals.

“LVMH stays each vigilant and assured in the beginning of the yr,” the corporate said, providing no specific forecast aside from to “further strengthen its global leadership position in luxury goods in 2023.”

Revenues jumped 28 percent in organic terms in selective retailing, headlined by the “exceptional performance” of beauty chain Sephora, particularly in North America, Europe and the Middle East.

Sephora’s first store in London, situated within the Westfield shopping mall, opened last month and “enjoyed a wonderful start,” LVMH said.

Meanwhile, duty-free operator DFS “benefited from the recovery of international travel, and specifically from the gradual return of travelers to the flagship destinations of Hong Kong and Macau.”

First-quarter intake from watches and jewellery grew 11 percent, with LVMH flagging a “excellent performance” for top jewelry, “remarkable” progress for Chaumet, an “excellent” start of the yr for Tiffany & Co., and “excellent progress” at its watchmaking maisons, which include Tag Heuer, Hublot and Zenith.

Perfumes and cosmetics logged a ten percent improvement in organic revenue growth, with LVMH noting that “Fenty Beauty benefited from the strong visibility given to the brand by Rihanna through the Super Bowl.”

The singer whipped out a compact to the touch up her makeup in the course of her set, winning the Fenty brand strong visibility and online buzz.

High stock levels of cognac held back revenue gains within the wines and spirits division to three percent, with LVMH touting good growth for its Champagne, wine, whiskey and vodka brands.

Rival French luxury conglomerate Kering, parent of Gucci, Saint Laurent and other brands, is scheduled to report its first-quarter tallies on April 25, while Hermès International reveals its on Friday.