LVMH to step up expansion plans
Thursday 31 January 2013
LVMH, the world's largest luxury goods group, is stepping up its global expansion plans despite fears of a slowdown in demand for its products.
The Paris-based group behind Christian Dior perfumes, TAG Heuer watches and Louis Vuitton handbags, posted profits close to €6bn (£5bn) for 2012, and said like-for-like sales were up 9 per cent. Bernard Arnault also outlined plans to step up expansion of its brands, saying: "LVMH intends to further strengthen its global leadership position in high-quality products."
Fourth-quarter sales rose 8 per cent, an improvement on the previous three months' 6 per cent, but far behind the double-digit growth that luxury brands enjoyed in previous years. Mr Arnault said the group's brands continued to gain market share globally, and its flagship Louis Vuitton label reported double-digit revenue growth during the year.
- 1 A daily walk 'can add seven years to your life'
- 2 Rules on 5p plastic bags likely to lead to arguments at the check-out
- 3 Chrissie Hynde says women who 'wear high heels and dress provocatively entice rapists'
- 4 Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
- 5 News agency criticised for describing Amal Clooney as 'actor's wife' in coverage of human rights trial
University to mark down students who say 'illegal immigrants' in class
Rules on 5p plastic bags likely to lead to arguments at the check-out
The nine most warmongering countries in the world revealed
Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
VMAs 2015: Kanye West to run for US president, Nicki Minaj calls out Miley Cyrus and the rest of tonight's winners
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Tony Blair attacks Jeremy Corbyn's 'Alice In Wonderland' politics
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
iJobs Money & Business
£25000 - £30000 per annum: Recruitment Genius: From modest beginnings the comp...
£35000 - £40000 per annum: Recruitment Genius: From modest beginnings the comp...
£15000 - £65000 per annum: Recruitment Genius: This is an exciting opportunity...
£18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...