LVMH reports strong growth
The luxury goods brand, LVMH Moët Hennessy Louis Vuitton SA, has posted an 8% rise in fourth quarter sales. Quarterly earnings came in at Eur3.8 billion (US$4.1 billion) fuelling full-year turnover by 4% to Eur12.7billion (US$13.6 billion). The company says operating profits were helped by cost cutting measures and the opening of a new ten-floor Louis Vuitton store in
Fashion and leather goods quarterly sales soared 22% to Eur1.1 million (US$1.2 million) while full-year sales climbed 16% to Eur4.2 million (US$4.5 million). Divisional sales were boosted by the popularity of new product offerings, including the Papillon bag and a new leather collection by designer Bob Wilson.
Reporting on the results LVMH said: “High performance was evident from across all regions with particular support having been generated at the end of the year by markets in
2002 operating profit was expected to increase by at least 25% and second half growth was anticipated to be much greater than the 19% recorded in the first half of the year.
