Luxury goods behemoth LVMH beat estimates Thursday, reporting 10 percent organic growth in the fourth-quarter. Analysts had forecast 8 percent growth, according to average estimates compiled by Bloomberg.

The French group’s selective retailing unit was the fastest-growing division, with sales rising 21 percent as businesses like Sephora, Hong-Kong based tax-free shopping giant DFS and Belmond Hotels were lifted by the easing of Covid-era travel restrictions.

Fashion and leather goods, the biggest and most profitable division comprising mega-brands like Louis Vuitton and Dior and fast-growing fashion houses like Celine and Loewe, reported sales up 9 percent, in line with the previous quarter.

Full-year operating profit grew 8 percent to €22.8 billion euros ($24.7 billion).

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