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Fashion sales up at LVMH

Fashion and leather goods sales at luxury goods group LVMH rose by 5% to €4.2 billion (£3.4bn) for the first nine months of the year, while like-for-like sales soared by 12%.

Total sales at LVMH, whose brands include Louis Vuitton and Marc Jacobs, rose 4.5% to €12bn (£9.6bn) during the period, with like-for-like sales up 10%.

LVMH said Louis Vuitton recorded double-digit organic sales growth during the period and that accessories continued to see "strong progress".

Fendi, Donna Karan, Marc Jacobs and Givenchy also continue to make "good progress" into the third quarter.

Despite the current global financial crisis, LVMH expects to see a "tangible increase in its results in 2008".

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