LVMH is selling more Champagne and Cognac
LVMH Moët Hennessey Louis Vuitton, the world’s leading luxury products group, recorded revenue of €9.1 billion in the first half of 2010, an increase of 16%.
All business groups achieved double-digit organic revenue growth. LVMH performed particularly well in Asia, the United States and Europe. Profit from recurring operations in the first half of 2010 increased by 33% to €1,816 million. The wines and spirits division posted a reported growth in revenue of 21%, from €1,079 million to €1,302 million. The profit increased by 35% to €326 million in the first six months of this year. Champagne sales saw a significant rebound during the period thanks to improvements at prestige brands, which had been affected in 2009. In the Cognac business, Hennessy experienced strong momentum in its key markets, notably China and the United States. All qualities of cognac achieved strong growth, LVMH said in a news release. (bmg)
