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LVMH enjoys sales boost

Record sales from luxury label Louis Vuitton helped luxury goods giant LVMH boost sales in its fashion division by 20% in 2010.

LVMH, which owns brands including Louis Vuitton and Marc Jacobs, saw sales for its fashion and leather goods division jump from €6.3bn (£5.3bn) to €7.6bn (£6.4bn) in 2010 with a 29% increase in profit.

Overall sales at the luxury goods group rose 19%, from €17.1bn (£14.4bn) in 2009 to €20.3bn (£17.1bn) in 2010. Profit from recurring operations increased by 29% to €4.3bn (£3.1bn).

The group said Louis Vuitton had a “record year” after strengthening customer appeal with new leather products. LVMH also highlighted the success of Fendi, Donna Karan, Céline and Loewe.

Bernard Arnault, chairman and chief executive officer of LVMH, said: “2010 was a great vintage for LVMH. The quality of our products, the originality of our brands and the talent of our teams bolstered by the economic recovery allowed us once again to gain market share throughout the world. In 2011, LVMH intends to further strengthen its global leadership position in high quality products by relying on its sound long term strategy.”

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