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Sykes Jettisoned by Aquascutum; Maurer In at Rabanne June 06th, 2012 @ 00:18 AM


Armani Conquers China, Chastises the Pope June 01st, 2012 @ 11:53 AM



 
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LVMH Revenues Boom 25 Percent in First Quarter

Godfrey Deeny
April 18th, 2012 @ 00:36 AM - Paris

LVMH Moet Hennessy Louis Vuitton, the planet's leading luxury conglomerate, scored a dramatic 25 percent increase in first quarter revenue in 2012 to 6.6 billion euros, or $8.6 billion at current exchange rates, albeit substantially boosted by highly favorable exchange rates.

However, the prestige products giant cautioned that “organic” revenue, or sales adjusted for exchange rates, grew by just 14 percent in the first quarter, still an impressive figure given worldwide business conditions.

The Paris-based publicly quoted company stressed in a release on Wednesday April 18 that what it called its early year “excellent momentum” was based on “particularly fast growth in Asia and in the United States.” It did not release any profit figure for the first quarter.

Looking ahead, LVMH said that as the economic environment “remains uncertain in Europe,” it will continue to focus its efforts on developing its brands, maintaining strict control over costs.

Breaking down sales into LVMH's five main business categories, the group revealed that its key division Fashion & Leather Goods, posted a 17 percent rise to 2.374 billion euros, or $3.106 billion, led by “sustained demand across all product categories for Louis Vuitton,” by far its biggest and most important brand in a huge stable of some 50 luxury labels.

LVMH's second key division, Selected Retailing, scored a 28 percent rise to 1.823 billion euros, or $2.393 billion, as duty-free chain DFS grew rapidly thanks to Asian demand. Beauty and scents' specialist Sephora expanded its network of stores, with new openings planned in Brazil and in Scandinavia, it noted.

Perfumes & Cosmetics sales advanced by 12 percent to 899 million euros, or $1.180 billion, thanks to the “impressive momentum” of Christian Dior's leading perfumes J'Adore, Miss Dior and Dior Homme; and the “remarkable growth,” at Benefit and Make Up For Ever.

Wines & Spirits grew 22 percent to 922 million euros, or $1.210 billion, powered on by Hennessy cognac's “excellent start to the year” with volume growth of 9 percent.

Finally, Watches & Jewelry soared by 141 percent to 630 million euros, or $827 million, though this was due to this consolidation of Bulgari, the Rome, Italy-based jewelry house that LVMH acquired last year, which enjoyed “an excellent start to the year, led by the remarkable performance of its Serpenti collection.”

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Fashion Wire Daily: The Last Word in Fashion

* LVMH Scores 13% Rise in First Half 2006 Sales

* LVMH Scores 35% Gain in 1st Half Operating Profit


* Versus Hires Jonathan Anderson

* Cacharel Unveils New CEO, in Major Corporate Revamp


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