|
|
Article: Improved Revenue Trends for LVMH in the Third Quarter.
- Article from:
- China Weekly News
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
LVMH Moet Hennessy Louis Vuitton, the world's leading luxury products group, achieved revenue of €11.9 billion in the first nine months of 2009, comparable with the same period in 2008. The Group delivered a resilient performance in Europe and continues to show strong momentum in Asia, particularly in China.
The revenue reduction of only 3% in the third quarter of 2009, at constant scope and exchange rates, is attributable essentially to the continued de-stocking by distributors for our businesses that do not sell directly to their final customer. The third quarter reflects an improvement from the trends seen earlier in the year, implying that the end of ...