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Strong sales at Louis Vuitton help LVMH beat expectations

Louis Vuitton, the luxury label, reported a “double-digit” rise in sales over the nine months to September 30, according to parent group LVMH.

The success of Louis Vuitton boosted the performance of French luxury giant LVMH, which said like-for-like sales dropped 3% in the final three months of the period to September 30, resulting in total sales of €11.9bn (£10.9bn) for the first nine months of 2009.

LVMH’s fashion and leather goods division achieved like-for-like revenue growth of 1% for the first nine months of the year to €4.5bn (£4.1bn), boosted by the opening of additional Louis Vuitton stores in China, where the label performed particularly well, and the launch of the first Louis Vuitton fine jewellery collection.

The performance of LVMH’s fashion division, which includes luxury womenswear brand Celine and leather goods brand Damier Graphite, was negatively impacted in the third quarter by the de-stocking at department stores.

LVMH said it will continue to make targeted investments in key markets throughout the rest of the year, including the opening of a new Louis Vuitton store in Mongolia.

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