Leather goods boost LVMH sales
The luxury goods group, Moët Hennessy Louis Vuitton (LVMH), has posted a 6% increase in its first quarter sales to Eur2.8 billion, shrugging off global concerns over the
The French firm says the results, which exceed its own growth expectations, were fuelled by the exceptional success of its Louis Vuitton leather goods division, which achieved a double digit increase in sales. The group says the strong sales were generated by the success of the new bag collection by Japanese artist Takashi Murakami. The Celine ‘Poulot handbag’ and the Loewe, Marc Jacobs, Pucci and Berluti fashion and leather collections also performed well. The Louis Vuitton range sold particularly well in the
Overall, first quarter sales in the firm’s fashion and leather goods division fell slightly by 1.2% to $1.068 billion, compared with the year earlier. Again, the US and Japan generated the strongest revenues of 11% and 18% respectively.
Concerns are mounting, however that the luxury goods industry could be hit by the outbreak of SARS as South East Asia accounts for 14% of the industry’s total sales. Including Japan, the region accounts for 50% of sales. LVMH has the greatest exposure to the region as in 2002 the firm logged 15% of its total sales from South East Asia and 15% from Japan.
