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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

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