Luxury giant LVMH gets Bulgari boost in Q3

AP News
Posted: Oct 18, 2011 7:23 AM
Luxury giant LVMH gets Bulgari boost in Q3

French luxury powerhouse LVMH Moet Hennessy Louis Vuitton said Tuesday that its revenue grew strongly in the third quarter after a the purchase of jewelry giant Bulgari and a rebound in Japan.

The company behind Dom Perignon champagne and Marc Jacobs said sales rose to euro6.01 billion ($8.28 billion), up 19 percent from the previous quarter.

The biggest jump was in the jewelry and watches division, which doubled its sales from last quarter to euro636 million.

The overall sales were up 17 percent from the same quarter a year earlier.

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The quarter also benefited from strong sales in Hong Kong and Macau and a return to luxury consumption in Japan after its devastating earthquake and tsunami.

LVMH said it was confident that sales would remain strong for the rest of the year.