By  on April 22, 2009

PARIS — LVMH Moët Hennessy Louis Vuitton said it was feeling the pinch of the global economy — even if its star Louis Vuitton brand continues to show resilience.


The French luxury group on Wednesday reported first-quarter revenue gained 0.4 percent to 4.02 billion euros, or $5.26 billion, thanks to strong global demand for Louis Vuitton bags, which helped offset deep declines in the hard-hit watch and jewelry and wines and spirits divisions. Sales in the quarter ended March 31, 2008, totaled 4 billion euros, or $5.99 billion. Currency conversions were made at average exchange rates for the respective periods.

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