Thursday, 30 July 2009

Spirits Have Lowered Considerably At LVMH – 30/7/09

Alcohol and timepieces have let the team down at LVMH, according to a Bloomberg article.

LVMH reported that “wines, jewellery and watches sold by third parties suffered massive destocking, offsetting gains by Louis Vuitton fashions.”

According to Bloomberg, LVMH’s second-quarter sales of watches and jewellery, which account for around 5 percent of total revenue, dropped 6.8 percent, while the fashion and leather-goods unit rose 5.3 percent. These earnings were published by LVMH after they were leaked to the market.

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Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury,