LVMH
This article was originally published in The Rose Sheet
Executive Summary
Fragrance and cosmetics sales dropped 3.1% to $1.5 mil. for the nine months. Despite the decrease, LVMH had a number of "successful" fragrance launches in September, including Coriolan by Guerlain and the European debut of Christian Dior's Hypnotic Poison and Givenchy's Pi, the Paris-based luxury products group announced Oct. 12. Consolidated sales dropped 8.3% to $1.49 bil. LVMH "continues to expect a drop in profits for 1998 as a whole" due to the deterioration of the worldwide market. However, the firm stated it is "actively pursuing its strategy, focused on growth and creativity in high-potential markets and improving productivity within its various activities"