LVMH Moët Hennessy Louis Vuitton has reported an 11 percent jump in sales for the first nine months of 2005, compared with the same period in 2004. The world’s leading luxury products group achieved revenue of approximately $11.5 billion for the period. On a comparable structure and constant-exchange rate basis, the rate of growth was 12 percent.
LVMH did not release third-quarter sales figures but reported very strong momentum for the period with 12 percent sales increase on a comparable structure and constant exchange rate basis.
Watches & Jewelry group sales rose by 13 percent for the nine-month period to $481.5 million and continued to gain market share, the company reported.
TAG Heuer and Zenith saw rapid development in the U.S. and Asia. Among recent launches were the new Carrera and the Golf watch by TAG Heuer and the Starissime tourbillon by Zenith, the company reported. The watch Christal by Dior has numerous technical innovations and met with exceptional success.
In LVMH’s other business groups for the first nine months of 2005:
* Wine & Spirits sales grew by 16 percent to just over $2 billion;
* Fashion & Leather Goods sales rose by 9 percent to $4 billion;
* Perfumes & Cosmetics sales increased by 9 percent to $1.9 billion; and
* Selective Retailing sales grew by 12 percent to $3 billion.
“This performance reflects the exceptional appeal of LVMH brands and products, which continued to increase their market share, the success of the group’s strategy and the effectiveness of the teams who succeeded in achieving ever-increasing results,” the company said in a statement.
LVMH said it expects to continue to achieve revenue growth over the remainder of the year as tourism levels “continued to gradually improve and the economic growth in the US and Asia continues.”