Finance In Brief
This article was originally published in The Rose Sheet
Executive Summary
LVMH: Company's perfumes and cosmetics business grew 9% on a reported basis during the first three quarters of FY 2007 to $2.79 bil., according to Oct. 15 earnings release from Moet Hennessy Louis Vuitton. The division's performance was particularly strong in Europe and Asia owing to a strong launch of the Christian Dior scent Midnight Poison and solid results from other new fragrances including TokyobyKenzo, Palazzo, a new release from Fendi and the Pucci scent Vivara. The "rapid progress" of cosmetics brand Benefit also contributed, LVMH says. The firm's selective retailing unit booked $4.1 bil. for the period, with Sephora continuing "to win market share in Europe and in the U.S. and to expand its business in the Middle East and China." Overall, LVMH achieved sales of $16.2 bil. for the first three quarters of FY 2007...