Leathergoods up 8% for LVMH in first nine months
16/10/2012
The Group recorded a 15% rise in revenue for the third quarter. The US market continued to demonstrate momentum, the group said and, in spite of the challenging economic environment, Europe and Asia also contributed to the third-quarter performance.
The Fashion & Leather Goods business group recorded organic revenue growth of 8% for the first nine months of the year with revenues of almost EUR 7.2 billion. The Louis Vuitton brand reported a double-digit rise in revenue, driven, the parent group said, by “the powerful appeal of its products and the unique experience offered to all clients at its stores, and further reinforcing its advance on the global market”.
It said the opening in May of the first Maison Louis Vuitton in China (in Shanghai) and the launch of a number of collections in collaboration with the artist Yayoi Kusama marked some of the high points of the quarter. Celine achieved “remarkably strong performance across all its markets and product ranges”, the group continued, while Fendi “undertook a targeted expansion of its distribution network”. All other fashion brands continued to show improved performance, according the official group statement.
“Despite the background of an economic slowdown in Europe, LVMH remains confident in its outlook for 2012,” the statement said. “The group will continue to pursue its proactive strategy centered on innovation and targeted geographic expansion in the most promising markets. LVMH will rely on the power of its brands and the talent of its teams to further extend, in 2012, its global leadership position in luxury products.”
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