Wednesday, 14 April 2010

LVMH Reports 11.3 Percent Rise In 1st Quarter Sales – 14/4/10 updated 16/4/10

LVMH has announced a forecast-beating 11.3 percent rise in comparable sales for the first quarter, helped by a strong rebound in the U.S. and Europe.

Although, in organic terms, meaning with like-for-like structure and at constant exchange rates, the revenue increase stood at 13 percent.

Shares in LVMH, the first major European luxury group to post first-quarter figures, jumped to 92.36 euros in high volume trade, their highest point since September 2000, and by 0722 GMT were still up 3.25 percent at 91.62 euros, the top French blue-chip gainer.

Also, shares in PPR which owns Gucci Group, were up 1.63 percent, and shares in Richemont were up 1 percent. Read more at Reuters.

Image credit: Shows Bernard Arnault, CEO of LVMH.

Who's behind the MO DOWN

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,