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LVMH post 22% revenue rise

LVMH, the French luxury goods group, posted a 22% rise in revenues for the first nine months of 2012 as sales across its fashion division grew by 8%.

The group, whose brands include Bulgari, Louis Vuitton and Celine, recorded a revenue of €19.9bn (£16.1bn) for the first nine months of 2012 with the group delivering a 15% rise in revenue for the third quarter.       

Louis Vitton drove much of the 8% growth in the fashion and leather goods division, with the brand posting a double-digit risei n revenue.              

All of the fashion brands “continued to show improved performance” LVMH said, with Celine delivering a “remarkable performance” and Fendi undertook a targeted expansion of its distribution network.

LVMH highlighted the Shanghai opening of the first Maison Louis Vuitton in China and the launch of a number of collections in collaboration with the artist Yayoi Kusama as some of the high points of the quarter.

Despite the background of an economic slowdown in Europe the company said it was “confident” about the rest of the year.

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