Louis Vuitton sales continue to grow21 October 2011
French luxury goods giant LVMH posted larger than expected sales growth for the third quarter on October 18 due to strong revenue from signature brand Louis Vuitton and despite an uncertain global economy. In the July-September period, sales jumped 17.6% from the equivalent period last year to €6.01 billion and nine-month sales increased 15% to €16.3 billion, the company said in a statement.
Organic growth, or sales from existing businesses, in the third quarter also exceeded expectations with a 15% increase despite an uncertain global economic climate. In 2010, a year of record profits, organic growth was 14%.
The LVMH name owns the brands of Louis Vuitton, Givenchy, Moet & Chandon and Dom Perignon champagnes and Sephora perfume stores.
LVMH said that sales at luxury luggage brand Louis Vuitton, which generates about 60% of the group's profit, enjoyed double digit growth in the third quarter.
In July, the company posted net half-year profit of €1.3 billion ($1.9 billion), a 25% jump from the same period last year.