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July 30, 2007
Luxury Brands Steam Ahead In First Half Of '07
Big name luxury groups continued to thrive in the first half of this year, driven by demand for jewelry, fashion and leather goods.
PPR, which owns Gucci Group and other luxury brands, reported a sales increase of 18 percent for the second quarter. The company said it saw strong sales across the board, with the only dark spot in Japan.
LVMH Moët Hennessy Louis Vuitton also saw growth in the first half. It reported a 6 percent increase in sales and a 2 percent increase in profit for the period, with continued demand for luxe fashion, footwear and monogrammed leather goods.
LVMH did particularly well with watch and jewelry sales, which leapt 18 percent thanks to brands such as Tag Heuer and Dior.
Posted by Blacks on July 30, 2007 09:26 AM
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