News The world’s leading producer of luxury goods LVMH Moët Hennessy Louis Vuitton recorded sales of 12.0 billion euros over the first nine months of 2008, compared to 11.45 billion for the corresponding period last year. Growth stood at 4.5%, and even 10% based on comparable structure and exchange rates (organic growth).
In terms of sectors of activity, watches and jewellery registered the highest increases in turnover (+11% to 656 million euros), ahead of perfumes and cosmetics (+6% to 2,081 million), fashion and leather goods (+5% to 4,239 million) and selective distribution (+5% to 3,005 million) while wines and spirits saw their sales decline by 2% to 2,038 million.
Regarding the watch and jewellery sector, the group indicated in an official statement that its organic growth was "9% for the first nine months. TAG Heuer is developing its strategy of moving upmarket as illustrated by the success of the Grand Carrera collection. Hublot recorded very strong growth in sales in all regions. Zenith performed particularly well in the Middle East. De Beers registered high growth in sales, not least in the United States."
For the coming months LVMH is counting on the formidable appeal of its products and brands to drive forward the dynamic observed since the beginning of the year, despite the current global financial crisis, and has confirmed its target of significant profits growth in 2008.
October 27, 2008