Share |

Family luxury continues strong performance

LVMH, the luxury retailer, said third quarter sales rose 24% on an annual basis to €5.11 billion, as demand for high end watches and handbags remained strong.
 
The company said the first nine months of the year "confirmed its confidence" for full-year results.
 
The group's watches & jewelry business group recorded revenue growth of 29% in the first nine months of 2010. The fashion & leather goods business group achieved a 20% revenue rise in the same period.
 
In the first half of 2010, LVMH – which is the world's largest luxury product group – saw net profits rising around 50% to more than €1 billion.

Pictured: Bernard Arnault, founder, CEO and chairman of LVMH

Want to get the latest family business/family office news direct to your desktop? Click here to register to receive our weekly newsletter

Are you a member of a multigenerational family business or family office? Click here to subscribe to our magazines

Click here >>
Close