LVMH reports good results

The French luxury goods group LVMH has revealed good results for the full year 2004. Net income for the group soared 39.7 per cent to EUR 1.010 billion (GBP 74 million) from EUR 723 million in 2003. This is the first time the company has surpassed the EUR 1 billion mark.

2004 sales grew 6 per cent toEUR 12.62 billion from EUR 11.96 billion in the same period the year before.LVMH stated that all groups realised a growth in market share. The Louis Vuitton brand reported a double-digit increase in sales, especially in the US and Asian markets.

Fashion brands like Celine, Marc Jacobs, Pucci and Berluti also continued to grow, specifically in Asia.Furthermore, LVMH reported that the reorganisation at Fendi and Donna Karan was progressing well, with good projections for the medium term.The company said that will continue its current strategy of focusing on internal growth and the development of its leading brands in the coming year.

LVMH is the world's leading luxury goods group. The Fashion and Leather Goods division comprises brands like Louis Vuitton - which happens to be the world's leading luxury brand - Celine, Loewe, Kenzo, Givenchy, Thomas Pink, Fendi, Emilio Pucci, Donna Karan, Marc Jacobs, Berluti and Stefano Bi.