The luxury gift market has taken a sharp hit in recent years due to the unforgiving financial climate. However, it may be that luxury shopping is bouncing back.

LVMH, the biggest luxury group in the world, reportedly beat forecasts when it reported a 14 percent increase in its third quarter sales. This is due to the strong recovery of its lines of businesses – wines, champagnes and fashion, in particular haute couture and lingerie. Expected growth for this period has been placed at 11 percent.

LVMH became the first luxury group in Europe to reveal its third quarter financial reports. Surprisingly, it reported that the significant increase was boosted by its expansion in China as the weaker euro has attracted Asian shoppers to go and by its products.

In 2009, the luxury goods industry suffered a major blow and LVMH was no exception, reported a three percent drop in revenues at the same period.

The retail giant owns popular global brands such as Louis Vuitton and Celine. It also is the biggest champagne maker in the world and owns Moet & Chandon. So, if you’re looking for something a bit more special, such as for anniversaries or wedding presents, then it looks like now is the time to get in there before prices start rising.