Leathergoods boost LVMH sales
Luxury goods retailer LVMH Moët Hennessy Louis Vuitton reported revenue of €17.2 billion in 2008, an increase of 4%. Organic revenue grew 7% for the year. In the fourth quarter, revenues were €5.2 billion, up 4%.
Fashion and leathergoods gave the company a lift, recoding 10% organic revenue growth in 2008 and profit from recurring operations was €1.9 billion. Louis Vuitton recorded double-digit organic revenue growth in 2008, accompanied by exceptional profitability.
Chairman and CEO, Bernard Arnault, said: “The 2008 results demonstrate the exceptional reactivity of our organisation in this period of economic crisis. The group has always emerged stronger from previous economic downturns thanks to the dynamic innovation of its brands, the quality of its products and the effectiveness of its teams. LVMH approaches the challenges and the opportunities of 2009 with confidence and determination.”
