Expanded leather goods lines boost LVMH results - leatherbiz: Leading Leatherbiz

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Expanded leather goods lines boost LVMH results

15/02/2007
 
French luxury goods group LVMH Moët Hennessy Louis Vuitton has posted record financial results for 2006. Profits totalled €3,172 million, an increase of 16% over 2005’s strong performance. Revenue rose to €15.3 billion, showing organic growth of 12% with increases across all business sectors.

At constant exchange rates, profit increased 19% in 2006.

Fashion & Leather Goods recorded organic revenue growth of 11% in 2006 and profits also increased by 11% to €1,633 million. Louis Vuitton achieved double-digit organic revenue growth once again and performed well across Europe, Asia and the USA. New leathergoods products, launched this year, such as Mini Lin, Monogram Groom, Miroir and Damier Azur, also performed well. The inauguration of  Louis Vuitton’s ‘Maison’ in Taipei, the new store in Macao and the first operations of the brand in Ukraine, Hungary and Norway, further contributed to the brand’s growth.

Fendi made good progress in 2006 and also strengthened its leathergoods lines.



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