LVMH Great Start To The Year
The Moët Hennessy Louis Vuitton group, the worlds leading producer of luxury goods, recorded a turnover in the first quarter of 2008 of 4.0 billion euros, an increase of 5% compared to the same period last year. Organic growth, i.e. based on comparable structure and exchange rates, was 12%.
In terms of sectors of activity, watches and jewellery top the rankings with an increase of 12% to 211 million euros, compared to 189 million in the first quarter of 2007 (organic growth: +19%). Next come perfumes and cosmetics (+8% to 717 million), selective distribution (+8% to 1,011 million) and fashion and leather goods (+7% to 1,445 million). Wines and spirits bring up the rear with a decline of 7% to 640 million euros.
For the watch and jewellery sector, the group commented as follows on the first quarter of 2008: "TAG Heuer performed extremely well thanks to the successful Grand Carrera collection. Zenith launched a new model, Chronomaster Grande Date. The exceptional success of the Christal collection was confirmed at Montres Dior. Chaumet and De Beers increased their revenue and continued their network expansion. Innovations by TAG Heuer, Zenith and Dior unveiled at the Basel fair contributed to large increases in orders."
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