LVMH Records 6% Increase in Revenues in Q1 to $9.1 billion

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LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury-goods firm, recorded a 6-percent increase in revenues in the first quarter to $9.1 billion.

The firm said its sales had been driven by organic revenue growth across all its five operating units, however sales were affected by the weakness of the euro against other currencies.

Revenue was boosted by strong growth in Asia and the United States, an even Europe was fair despite the poor economic environment.

Watches and jewelry revenues were down 1 percent on the year at $817 million.

“In an economic environment which remains uncertain in Europe, LVMH will continue to focus its efforts on developing its brands, will maintain a strict control over costs and will target its investments on the quality, the excellence and the innovation of its products and their distribution,” the company says in a statement.

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