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LVMH

This article was originally published in The Rose Sheet

Executive Summary

Fragrances and Cosmetics income from operations increased 4.4% to $103 mil. in 1997, "despite the systematic...struggle against unauthorized parallel distribution networks," as well as "significant advertising and promotion investments," the company reported March 17. LVMH earlier had announced sales for the business were up 2.8% to $1.54 bil. ("The Rose Sheet" Feb. 2, In Brief). The establishment of the Fragrances and Cosmetics unit will allow LVMH to "better coordinate...synergies in areas such as purchasing, R&D, logistics and international expansion," the firm noted, which will "significantly reduce operating expenses, improve productivity, and strengthen control over distribution" and result in "significant" profitability growth for the group in 1998...
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