LVMH posts 26% sales growth for H1
Luxury products group LVMH defied the economic downturn
with 20% earnings growth during the first half of 2012.
The company posted a 26% sales rise for the six-month
period, with revenues reaching EUR13 billion.
Watches and Jewellery were the star performers, with an
87% hike in profits; however, fashion and leathergoods sales also soared,
driven by global demand for handbags such as the Fendi Baguette, and by the
opening of the Maison Louis Vuitton in Rome.
Sales growth occurred in the US, Europe and Asia during
the first quarter, with particularly strong sales in China, including double-digit
gains at Louis Vuitton.
Bernard Arnault, chairman and CEO, said: "We approach the second half of the year with confidence and are relying upon the creativity and quality of our products as well as the effectiveness of our teams to pursue further market share gains in our historical markets as well as in high potential emerging markets."
