LVMH 2002 First Quarter Sales increase 8%
LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury product group, today announced that consolidated sales in the first quarter of 2002 reached a record 2,955 million Euros, an increase of 8% compared to the first quarter of 2001, which had itself increased by 12%.
The increase in LVMH sales reflect the excellent performances of the Group brands in an environment made difficult by the continued sluggishness in travel retail. Sales were particularly strong in Wines & Spirits and Fashion & Leather as market share was increased in both sectors. DFS sales were better than expected.
On a divisional basis, sales were as follows:
|In million euros||2002||2001||% change|
|Wines & Spirits||457||384||+ 19 %|
|Fashion & Leather Goods||1 087||891||+ 22 %|
|Perfumes & Cosmetics||495||506||-|
|Watches & Jewelry||122||121||-|
|Selective Retailing||781||824||- 5 %|
|Other activities and eliminations||13||19||na|
|Total LVMH||2 955||2 745||+ 8 %|
LVMH maintains the objective of achieving a significant rebound in operating income in 2002.