LVMH profits fall as recession bites

Published: 28-Jul-2009

The luxury sector is showing further signs of being affected by the economic downturn after luxury goods giant Moêt Hennessy Louis Vuitton (LVMH) posted a 12% fall in profits for the first half of 2009 to €1.36bn. Group share of net profit fell by 23% to €687m.


The luxury sector is showing further signs of being affected by the economic downturn after luxury goods giant Moêt Hennessy Louis Vuitton (LVMH) posted a 12% fall in profits for the first half of 2009 to €1.36bn. Group share of net profit fell by 23% to €687m.

LVMH chairman and ceo, Bernard Arnault noted the strong performance of Guerlain and Parfums Christian Dior, which have both gained market share according to the company and said the group was confident about second half trading.

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