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LVMH Posts Q3 2009
Posted: October 20, 2009
LVMH Moët Hennessy Louis Vuitton posted revenue of €11.9 billion in the first nine months of 2009, comparable with the same period in 2008. The company, according to its statement, delivered a resilient performance in Europe and continues to show strong momentum in Asia, particularly in China.
The company stated that the revenue reduction of 3% in the third quarter of 2009, at constant scope and exchange rates, is attributable to the continued de-stocking by distributors for its businesses that do not sell directly to the final customer. The third quarter reflects an improvement from the trends seen earlier in the year, implying that the end of this phenomenon may be approaching. In the third quarter, all business groups recorded better performances than in the first half.
In its perfumes and cosmetics business, Christian Dior continued to benefit from the performance of J’Adore, and successfully launched the new lipstick Sérum de Rouge. Though revenue is down -5% at €1.97 billion. Guerlain enjoyed the strong debut of its new feminine fragrance Idylle. Benefit continued to show good momentum and successfully entered the perfume market, and Make Up For Ever saw strong growth.