France’s LVMH reported a 1% YoY sales increase in Q3, marking its first period of growth this year amid recovering demand in China. The world’s largest luxury group posted revenue of 18.28 billion euros ($21.17 billion) for July-September. “Mainland China turned positive in Q3,” Chief Financial Officer Cecile Cabanis confirmed, noting “noticeable” improvement in Asian markets excluding Japan. LVMH’s fashion and leather goods division — home to Louis Vuitton and Dior — declined 2%, a significant improvement from Q2’s 9% decline. The results suggest potential stabilization for the $400 billion luxury industry. LVMH’s U.S.-listed shares rose 7.5% on Tuesday.