The world leader in luxury products, Moët Hennessy Louis Vuitton (LVMH), reported sales worth 2,849 million euros in the first quarter of 2004, 2% up on the same period last year (2,801 million). Organic growth, at constant exchange rates, reached 10%.
While practically all of the group’s business areas contributed to this excellent result, watches and jewellery were well out in front with sales 17% higher at 113 millions euros (organic growth: 30%). Next came wines and spirits with sales up 11% at 451 million and selective distribution (+2% at 756 million). The fashion and leather goods sector for its part remained stable with sales worth 1,067 million, while fragrances and cosmetics were 3% down at 473 million.
This very good start to the year, and a more favourable economic and monetary environment, enable the group to confirm its target of significant further operating result growth in 2004.
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