PARIS -- Sales growth at LVMH Moet Hennessy Louis Vuitton was paced by its luggage and leather goods businesses, according to the luxury conglomerate.
In line with preliminary results released last month, LVMH said its consolidated group sales rose 10 percent in 1993 to $4.05 billion (23.8 billion francs at current exchange rates), against 21.7 billion francs a year ago.
LVMH added that on a constant currency basis, sales rose 3.7 percent last year. The group will announce its profit figures in mid-March.
"The trading performance at the end of the year was better than expected. During the last two months of 1993, sales were 16 percent higher than the comparable 1992 figure," the group said, noting that January showed a continuing strong trend.
Paris-based LVMH owns the fragrance and fashion businesses of Christian Lacroix, Givenchy and Kenzo; Parfums Christian Dior; Louis Vuitton; Hennessy and Hine cognac; one quarter of French champagne output with brands like Veuve Clicquot, Pommery, Moet Chandon and Dom Perignon, and the French financial daily La Tribune Desfosses.
A spokeswoman for LVMH noted, however, that the group's two major acquisitions in 1993, Kenzo and La Tribune Desfosses, are not included in last year's accounts.
Breaking the conglomerate into its four main divisions, LVMH said:
The luggage and leather goods unit, most of which is composed of Louis Vuitton's business, scored a 20.5 percent increase in sales to $963.3 million (5.66 billion francs).
Perfumes and beauty products posted an 11.6 percent rise in volume to $1.02 billion (6.1 billion francs).
Sales of cognac and spirits improved 5.3 percent, to $994 million (5.8 billion francs).
Champagne and wine volume grew 3.8 percent, to $926 million (5.4 billion francs).
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"