In Brief: LVMH
This article was originally published in The Rose Sheet
Executive Summary
LVMH: Sales for Moet Hennessy Louis Vuitton's 1996 Champs Elysees (Guerlain), Organza (Givenchy) and Jungle (Kenzo) fragrance launches "exceed[ed] initial forecasts" and "enjoyed excellent market reception," the Paris-based luxury goods company said in a Jan. 30 preliminary statement of operations. Despite the launch successes, the company's Perfumes and Beauty Products division sales declined 3.3% to $1.73 bil. (based on a Dec. 31 exchange rate of $1 = FFr 5.1928) in 1996 as "efforts to increase selectivity in distribution continued to impact" Christian Dior brand sales, LVMH explained. The company's consolidated sales advanced 4.6% to $6 bil...