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This article was originally published in The Rose Sheet

Executive Summary

Sephora opened 24 stores in the U.S. in 2005 and will "continue to expand vigorously" in established markets as well as high-potential markets such as Central Europe in 2006, LVMH says in annual report released March 2. Profit from recurring operations for Selective Retailing advanced 46% to $417.2 mil. (€1=$1.20) in 2005. In Perfumes and Cosmetics, profit from recurring operations increased 15% to $208 mil., due to major French brands gaining market share and smaller companies maintaining "rapid rate" of growth, according to company. In 2006, Parfums Christian Dior will launch "major skin care and makeup," Guerlain will introduce Orchidée Impériale skin care as well as expand KissKiss, and Parfums Kenzo will launch a new women's scent in the second half, firm notes. Profit from recurring operations for LVMH grew 16% to $3.3 bil...

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