LV And Hublot
Leading luxury giant LVMH sales rise
The 2008 financial crisis was more than two years ago, and since that time, the marketplace demand for luxury goods, including Vibram FiveFingers shoes, has begun to rise. The world’s largest luxury goods group, LVMH, said that due to the growth in sales of Hublot watches and Louis Vuitton leather goods, the Group’s sales in the first quarter of 2011 increased by 17%.
The world’s largest luxury goods group, LVMH, derives its main revenue from the fashion and leather goods sectors of LV and the two brands Hublot. These led the group in the first quarter of 2011, resulting in a 17% increase in sales. In terms of sales subdivisions, watches and jewelry saw a 28% increase in revenue, wine and spirits sales rose by 20%, and cosmetics and perfumes sales are up by 9%.
In March this year, following the acquisition of the world’s third-largest jeweler Bulgari, strong demand in the Chinese market drove first-quarter sales up to 250 million euros. Among these, jewelry sales (the company’s main business) increased by 29.3% to 114 million euros, watch sales rose by 22% to 50.6 million euros, accessories sales increased by 19% to 20.7 million euros, and perfume and cosmetics sales soared by 33% to 60.1 million euros.
Following the major earthquake in Japan, LVMH Group CEO Bernard Arnault stated that while there were not too many people in the business’s stores in Tokyo, as usual, southern and western Japan has not yet been affected. Sales in Japan account for about 9% of total sales. The Group mentioned that in the USA, Europe, and Asia, sales had “strong momentum.”