May 23, 2018 / 12:40 PM / a year ago

Louis Vuitton designer Ghesquiere signs new contract

PARIS, May 23 (Reuters) - Louis Vuitton designer Nicolas Ghesquiere has signed a new contract, delivering a potential boost to luxury goods giant LVMH for which Louis Vuitton is a key source of profits.

LVMH group head Bernard Arnault announced Ghesquiere’s new contract in a statement on Wednesday.

Last month, LVMH reported better-than-expected sales growth in the first quarter, which pointed to enduring appetite for its brands from wealthy Chinese shoppers. (Reporting by Pascale Denis; Editing by Sudip Kar-Gupta)

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