LVMH
This article was originally published in The Rose Sheet
Executive Summary
Fragrances and cosmetics operating profit jumped 33% to $139.8 mil. (146 mil. Euros) in 1999, the company reports March 9. Results reflect "considerable advertising investments" LVMH made to support the "successful" introductions of Christian Dior's J'adore, Givenchy's Indecence and Guerlain's Aqua Allegoria. The year was marked by a number of acquisitions, including Bliss, Hard Candy, BeneFit Cosmetics, Make Up For Ever and Fendi, as well as the launch of Sephora.com. Beauty sales total approximately $1.72 bil. in 1999 (1"The Rose Sheet" Jan. 24, In Brief). Consolidated LVMH income increased 40% to $706.7 mil. (738 mil. Euros)