Luxury group LVMH reported 10% organic revenue growth at the end September, achieving revenue of €12 billion in the first nine months of 200 compared to the same period in 2007. Louis Vuitton reported remarkable growth despite the global economic context. The Group achieved organic revenue growth of 6%, a performance that is even more noteworthy in view of the high comparative figures seen in the third quarter of 2007.
Fashion & Leather Goods achieved organic revenue growth of 12% during the first nine months of the year. Louis Vuitton recorded double-digit organic revenue growth during the period. Its new collection, Damier Graphite, successfully established itself during the summer alongside the star Monogram line, which is still enjoying exceptional momentum. Accessories continue to see strong progress. Good progress in the other brands, notably Fendi, Donna Karan, Marc Jacobs and Givenchy, continued into the third quarter.
Watches & Jewelry achieved organic revenue growth of 9% during the first nine months of the year. TAG Heuer developed its high-end product strategy, illustrated by the success of its Grand Carrera collection. Hublot saw strong revenue growth in all its regions. Zenith recorded particularly strong growth in the Middle East. De Beers saw a high level of growth in revenue, including in the US.
In Selective Retailing, organic revenue growth was 11% for the first nine months of 2008. DFS continued its development. The increase in Chinese customers continued. Highlights of the third quarter include the opening of the Macao Galleria and the new airport concession in Abu Dhabi. Sephora performed very well. The brand continued in the third quarter to gain market share in Europe and the US and further established its presence in the Middle East and China.
LVMH relies on the considerable appeal of its products and brands to continue the momentum it has enjoyed since the beginning of the year, despite the current global economic and financial crisis.
Image: Louis Vuitton