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.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)