LVMH the world’s leading luxury products group, recorded 13% organic* sales growth for the first nine months of 2004. During this period, the Group achieved sales of EUR 8,754 million, an increase of 7%. Despite a high comparison base, LVMH continued to demonstrate very strong momentum during the third quarter with organic sales growth of 10%.
This performance reflects the exceptional appeal of LVMH brands and products, which continued to increase their market share, the success of the Group’s strategy and the effectiveness of the teams who succeeded in achieving ever-increasing results.
By business group, the progress was as follows:





All the Watches & Jewelry brands posted double-digit organic sales growth during the first nine months of 2004, driving the business group’s overall organic growth of 25%. TAG Heuer, which is celebrating 40 years of Carrerra, delivered a very strong performance in the US and in Asia, as did Zenith. The watch Chiffre Rouge developed by Hedi Slimane for Christian Dior enjoyed an excellent reception.

Outlook
Due to the tremendous appeal of its products, LVMH expects to continue to achieve sales growth over the remainder of the year despite the high comparison with the strong sales reported in the fourth quarter of 2003. Tourism levels have continued to gradually improve in October and the economic growth in the US and Asia continues. The Group expects this momentum to extend through the fourth quarter. In this context, LVMH confirms its objective of a significant increase in operating income in 2004.


Source : LVMH Press Release

www.lvmh.com

(Please Credit europastar.com)