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LVMH posts 18% hike in sales

French luxury goods group LVMH has shrugged off the economic uncertainty and said it was optimistic for the rest of the year after it posted a 17.6% rise in third-quarter sales.

The company behind labels Louis Vuitton and Marc Jacobs, said total sales climbed 17.6% to €6.01bn (£5.2bn) during the three month period to June 30. It said total sales grew 15% to €16.3bn (£14.2bn) for the first nine months of the year.

A statement from LVMH said: “The momentum continued in Asia, Europe and the United States, while Japan returned to growth over the period. The excellent performance of LVMH in the first nine months has confirmed its confidence for the remainder of 2011.”

In March of this year LVMH acquired jewler Bulgari from the Bulgari family.

LVMH’s gains follow a strong half-year performance from luxury fashion brand Burberry which reported a 30% revenue surge to £830m in the six months to September 30 demonstrating the strength of luxury brands in the current climate.

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