FRANCE: Strong revenue growth at LVMH
Revenues at luxury goods group LVMH Moët Hennessy Louis Vuitton hit EUR3.6bn (US$4.4bn) during the first quarter, aided by growth in all divisions, including fashion and leather goods.
Revenues for fashion and leather goods reached EUR1.3bn, up 14% on last year's figure of EUR1.1bn, with Louis Vuitton delivering double-digit organic revenue growth, including "exceptional" progress in the US and Asia.
The company said progress in Europe was rapid, helped notably by the opening of its new "Maison" on the Champs Elysées, and trade in Japan was "buoyant" as that country's economic recovery continued.
All fashion and leather brands had a "very good" start to the year, with Fendi, including its Spy range and B.Fendi collections, a particular highlight.
LVMH said its top priorities continued to be increasing market share and the profitability of its leading brands, as well as improving the performance of its developing companies and cash generation.
"All of these elements allow us to confirm the objective of a very significant growth in the group's results for 2006," the company said.
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