LVMH sets luxury results season sparkling

14th October 2010, Comments 0 comments

LVMH, the leading group in the world of luxury retail products, reported on Thursday a jump in sales so far this year, driven largely by sales in Asia and by demand for champagne.

The strong figures from LVMH, and its top-branded products under the Louis Vuitton name, is in line with strong performances across the luxury products sector since the beginning of the year.

LVMH sales, covering sales by a range of top brands, rose by 23.6 percent in the third quarter, taking the rise in sales in the first nine months to 19 percent from the equivalent figure last year.

"Momentum continued to be very strong in Asia, Europe and America. Louis Vuitton once again achieved double-digit organic revenue growth," the group said.

But on the Paris stock market, the price of shares in the groupslipped by 0.36 percent to 110.35 euros. The overall market was showing a fall of 0.10 percent.

© 2010 AFP

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