No signs of slowdown at LVMH
Wold’s largest luxury group LVMH reports a sales increase of 17,6% in the Q3 of 2011, reaching a total of 6,01 billion euros and an overall 15% increase in sales for the first 9 months of 2011, a total of 16,30 billion euros.
Thanks to the integration of the Italian jeweller BVLGARI, the turnover for the luxury watches and jewellery division of LVMH jumped by 76%, to a total of 1,21 billion euros for the first 9 month of 2011, compared to the previous year.
Louis Vuitton remains the best performing brand of the LVMH Group. Sales have increased in both emerging markets such as Asia and mature ones, such as Europe and the U.S. After two years of stagnation, even Japan showed a 10% increase in sales for LVMH, in the first 9 months of 2011.
British luxury goods group Burberry said last week it had seen "consistent strong brand momentum and business growth" and that there was no evidence of a slowdown so far.