PARIS, July 23 (Reuters) - LVMH, the world's

biggest luxury company, posted a 1% rise in organic sales in the

second quarter on Tuesday, missing analyst estimates, and likely

adding to investor jitters about slowing growth in the sector.

Sales at the French group, owner of labels Louis Vuitton,

Tiffany & Co. and Hennessy, grew to 20.98 billion euros ($22.8

billion), a 1% rise on an organic basis, which strips out

currency effects and acquisitions.

The figure fell below analyst expectations for revenues of

21.6 billion euros, according to an LSEG poll based on six

analysts.

The report from luxury sector bellwether LVMH, which is

Europe's second-largest listed company, worth around 340 billion

euros, comes amid concerns about weak sales of designer fashions

in the sector's key market, China.

The group's fashion and leather goods division, which

includes the Louis Vuitton and Christian Dior brands and

accounts for nearly half of group sales and the bulk of

operating profit, grew 1%, slowing slightly from the previous

quarter's 2% rise.

"While remaining vigilant in the current context, the group

approaches the second half of the year with confidence," said

LVMH Chairman and Chief Executive Officer Bernard Arnault in a

statement.

($1 = 0.9212 euros)