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Thursday, 10th March 2005 (5714 views)

Luxury retailer LVMH Moet Hennessy Louis Vuitton has reported that 2004 operating income soared by 11 per cent to $3.2 billion (€2.4 billion).<br/><br/>The luxury goods retailer said sales of $16.9 billion (€12.6 billion) were boosted by watch and jewellery sales, which returned to profit, marking a turnaround from 2003. <br/><br/>The group's products range from Dom Perignon Champagne to Givenchy fashions.<br/><br/>Net income before goodwill amortisation increased by 26 per cent on 2003 figures, while net income for the company's Paris-based arm increased by 40 per cent, exceeding the €1 billion threshold for the first time.<br/><br/>Margin levels at Louis Vuitton recorded sales increases in the United States and across Asia and the group recorded growth across all operations. The company sold off less-profitable brands, including Christian Lacroix.<br/><br/>Chief executive, Bernard Arnault, said: "We are pursuing a strategy of concentrating on top brands and growing what we call our rising stars."<img alt="track" src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7995666"/>

 

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