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LVMH third-quarter sales soar 23%

LVMH, the luxury goods group that owns Louis Vuitton and Marc Jacobs, saw third-quarter sales in its fashion and leather goods division rise 26% to €1.95bn (£1.71bn).

Total sales increased 23% to €5.11bn (£4.49bn) in the three months to September 30.

On a nine-month basis, revenue from fashion and leather goods surged 20% to €5.46bn (£4.79bn), with strong performances from labels such as Louis Vuitton and leather goods lines Monogram and Damier.

LVMH said “strong momentum” had returned to labels Fendi and Donna Karan.

LVMH will launch a new fashion line during the next quarter. It did not disclose details of the launch.

A company statement said: “The excellent performance of LVMH in the first nine months of the year has confirmed its confidence for 2010. The Group will continue its proactive strategy focused on innovation and targeted geographical expansion in the most promising markets. LVMH will rely on the power of its brands and the talent of its teams to strengthen once again its global leadership position in luxury products.”

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