--FILE--Pedestrians walk past a Louis Vuitton boutique of Louis Vuitton Moet Hennessy (LVMH) in Wuhan city, central Chinas Hubei province, 8 September 2014. LVMH Moet Hennessy Louis Vuitton on Tuesday (14 October 2014) reported improving sales in Europe and the U.S. for the third quarter, although slowing growth in Asia continued to weigh on the luxury-goods giant. LVMH, home to brands such as Louis Vuitton, Fendi, Mo?t et Chandon and Bulgari, said overall sales rose 5.2% to 7.39 billion euros ($9.37 billion) in the third quarter from €7.02 billion in the same period last year. On an organic basis-stripping out foreign exchange swings, acquisitions and disposals, sales grew 4% in the quarter, unchanged from trends seen in the first half, LVMH said. LVMH, which is viewed as a bellwether for the luxury industry, along with rivals has seen demand slow in former buoyant markets such as China, where an anticorruption campaign has dented the habit of gift-giving, notably hitting sales at the group¯s wine and spirits unit. Luxury-goods companies have relied on Chinese shoppers-spending both at home and abroad-for booming demand in recent years. The impact of Chinese anti-gifting campaign has also has started to be felt in LVHM¯s core business: leather and fashion.
