LVMH (Moët Hennessy Louis Vuitton), a leading luxury-products group, says its 2005 revenues rose 11 percent for 2005, to $16.8 billion. The year’s initial results were released in January. Other major luxury-product groups, including Richemont and Gucci, have also reported strong gains.
LVMH posted record revenues in December. Fourth-quarter revenues rose 13 percent, to about $3.4 billion. All geographic regions where it operates, it said, increased revenues with growth accelerating in the United States, Asia, and Europe. LVMH expected to show double-digit growth in its 2005 profits, which will be formally announced on March 2.
In its business groups, watches and jewelry increased 11 percent (to $691.7 million) for the full year. LVMH said its watch brands gained significant market share in all strategic regions, including the United States, Asia, and Japan. The company also cited strong gains for the Link, Carrera, and Aquaracer lines by TAG Heuer; the Open concept of Zenith; the Liens de Chaumet and Class One lines by Chaumet; and the new Christal line of Dior Watches.