No slowdown for Louis VuittonWednesday, 17 October 2012
"There is no major slowdown in the third quarter compared to the second quarter,"
LVMH Chief Financial Officer Jean-Jacques Guiony told a conference call with analysts following the publication of the group's third-quarter figures on Monday. Guiony said there was no slowdown in demand for Louis Vuitton products but that this year's performance came against very high figures last year.
"This mostly affects the Asian bit of the business," he added.
Referring to Louis Vuitton's sales performance globally, Guiony said: "Europe is a bit higher, U.S. a bit lower and China is close to (the first half), with low single-digit (growth)."
Louis Vuitton, which is the world's biggest luxury brand in terms of sales with revenue of more than 7 billion euros, makes up about 75 percent of the fashion and leather sales of parent LVMH.