FRANCE: Strong Growth In Turnover Continues For LVMH
Continuing strong demand for luxury products is reflected in the latest trading figures for LVMH Moet Hennessy Louis Vuitton. Consolidated turnover for the third quarter 2000 reached 2,862 million Euros, an increase of 35 per cent compared to 1999.Sales growth, already very strong in the first half, continued during the third quarter of the year. The third quarter of 1999, used as a basis for comparison, was already up 31 per cent compared to 1998. September sales reached an absolute record level.Over the first nine months of the year, turnover has increased by 38 per cent to reach 7,894 million Euros.Growth in the Fashion and Leather Goods business group continues to be very consistent, with sales at Louis Vuitton up by 38 per cent. The distribution network continues to grow, and now numbers 276 stores - the most recent of which was opened in Seoul. A first store was also opened in Sweden. Other brands - Celine, Loewe, Kenzo and Givenchy - have registered double digit growth and the performance of Fendi is described as "excellent".
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