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Morning Hemlines: Ballantyne, Luxury...   Morning Hemlines: Takashimaya, Ann T...
Oct 9 2008 12:53PM EDT

LVMH Third Quarter Sales Up

LVMH Moet Hennessy Louis Vuitton managed to avoid the widespread spending slump in the third quarter, WWD reports.

Thanks to "remarkable" sales of the Louis Vuitton brand, Bernard Arnault's luxury group saw its organic revenue rise 6 percent, to $6.27 billion. That's much lower than the third quarter of 2007, which saw 15 percent growth, but--well, that was last year's economy.

It will be interesting to see exactly what's selling--and where--especially when buyers appear to be shifting away from the conspicuous, logo-laden goods that LV is so well known for. Retailers recently told Portfolio.com that sales of handbags made from expensive, exotic materials (but in conservative, low-key shapes) remain strong.


By Sara Clemence

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