PARIS, Apr 15, 2008 / FW/ — LVMH Moët Hennessy Louis Vuitton, parent company of two of the world’s most recognizable brands, Louis Vuitton and Christian Dior, reported revenue of 4 billion euros in the first quarter of 2008, a 12% organic growth compared to the same period last year. But, with the negative impact of exchange rates, the revenue growth is pegged only at 5%.
With excellent performance in Asia, the U.S. and Europe, all business groups: Fashion & Leather Goods, Perfumes & Cosmetics, Watches and Jewelry and Selective retailing, all reported double-digit organic growth from 13% to 19%. Exception is Wines & Spirits, which showed a 1% organic growth.
Biggest gainer is the Watches & Jewelry business group which recorded organic revenue growth of 19%, thanks to the successful launches of TAG Heuer’s Grand Carrera and Zenith’s Chronomaster Grand Date.
In Fashion & Leather Goods division, Louis Vuitton was the main contributor to the 14% organic revenue growth, with the market’s remarkable enthusiasm with the collaboration between Marc Jacobs and Richard Prince.
In another development within LVM, Delphine Arnault-Gancia, the eldest daughter of the company’s controlling shareholder, was appointed as the Deputy Managing Director of Christian Dior.
A graduate of French business school EDHEC and the London School of Economics, Arnault-Gancia began her career as a consultant to McKinsey. Her first job at LVMH was an executive at John Galliano. Since 2001, Arnault-Gancia has held several key positions at Dior, as well as sitting on the main board of LVMH.
In a related development, the house of Kris Van Assche, the designer of Dior Homme, has named Perrine Houdoux-Stoclet to be its managing director, effective from June 1, 2008.
[FELICIA PRINCE]
