French luxury giant LVMH sales up 25 pct to $8.6B

AP News
Posted: Apr 18, 2012 8:12 AM
French luxury giant LVMH sales up 25 pct to $8.6B

French luxury conglomerate LVMH Moet Hennessy Louis Vuitton says its revenue grew 25 percent in the first quarter of the year, driven by strong sales in Asia and the U.S. and in its new acquisition, Bulgari.

The company behind Dom Perignon champagne and Donna Karan fashion said Wednesday it brought in (EURO)6.6 billion ($8.6 billion) from January to March. While all of its business divisions grew, watches and jewelry stood out with a 141 percent increase in sales. Much of that comes from the purchase of Bulgari last year.

Still, that division still remains small. About a third of sales come from fashion and leather goods, which rose 17 percent.

The company did not break out sales by region, but noted they were especially strong in Asia and the U.S.