Luxe Goods Giant LVMH Seeing Better Times

LVMH, the world's leading luxury retailer and marketer of such as brands as Dom Perignon and Dior, said its sales so far this year have risen sharply, driven largely by Asia and by demand for champagne.

The strong performance from LVMH, and its top-branded products under the Louis Vuitton name, is in line with other luxury marketers since the beginning of the year, indicating that spending in the luxury sectors has returned in earnest.

LVMH said its sales rose 23.6 percent in the third quarter and were up 19 percent at 14.2 billion euros (19.9 billion dollars) for the nine months to September compared with the same period in 2009.

The Fashion and Leather goods division was the biggest earner, with nine-month sales of 5.46 billion euros up 20 percent, following by Selective Retailing with sales of 3.71 billion euros, up 17 percent.

Wines and Spirits jumped 22 percent to 2.15 billion euros.
LVMH said the "excellent performance" in the nine months confirmed its confidence for full-year 2010.

LVMH counts among its brands, Givenchy and Guerlain perfumes, as well as Moet and Chandon, Glenmorangie and Ardbeg Scotch whiskies.

LVMH's shares are up 41% so far this year.