SESSION 24: TEXT FOR WEDNESDAY 6TH APRIL
FUTURE LOOKING ROSY FOR LUXURY GOODS MAKERS
TEXT TAKEN AND ADAPTED FROM:
http://www.breakingnewsenglish.com/
THE TEXT:
Times are good for luxury brands despite the downturn in the world economy. It seems people with money to spend are now spending. LVMH, which has the brands Louis Vuitton, Dior and Moët-Chandon champagne, has reported an 11% jump in first quarter sales. The Paris-based company said sales rose to just over $6bn in the first three months of the year. Analysts say the stronger figures were due to a rise in demand in Asia and a recovery in U.S. and European markets. Sales of watches, jewellery and expensive drinks were particularly high. Wines and spirits sales rose by 18% while watches and jewellery went up by 33%. Other goods such as bags, wallets and designer clothes increased at a slower rate of 8 per cent.
LVMH is the world's largest luxury goods group Executives were very upbeat at the news. They said: "Louis Vuitton continues to deliver an exceptional performance, sustained worldwide by the growth of its historic lines and by the success of its latest innovations." They spoke about the positive trend in their drinks sales, saying “the champagne business benefited from a renewal in orders from distributors”. They also commented on the popularity of their new line of watches: "The success of the new products presented at the Basel Watch Fair this year confirmed the momentum of LVMH brands," a statement said. The group was cautious about the future, saying the group was still "taking into account the uncertainty of the strength of the economic recovery".
'Future Looking Rosy for Luxury Goods Makers': 14th April, 2010
No comments:
Post a Comment