LVMH sales increase 17% in the first three months of 2011
Sales at LVMH, world’s leading luxury group, registered a 17% increase for the first three months of 2011, reaching 5,2 billion euros thanks to strong sales in Asia, Europe and the U.S. The sales figures released by LVMH exceeded analysts’ expectations which estimated a 11% increase to 4,95 billion euros.
Best performing divisions were fine wines and spirits with an increase in sales of 20% and watches / jewellery with an increase of 28% in sales for the first three months of 2011. The results are even more surprising given that the two divisions were the most affected by the crisis in 2010.
In a press release, the group indicated that sales were not affected by the disaster in Japan, country which represents 9% of the group turnover.