Industry News – LVMH Results Show Increase in Sales

Louis Vuitton Moët Hennessy, the world’s leading luxury product group, today announced consolidated sales in the first quarter of 2003 of 2,803 million Euros.

Champagnes & Wines registered growth for the first quarter of 2003 on top of an over 30% increase in the same period in 2002. Cognac volumes increased in the first quarter with a particularly good performance in the United States.

Jewelry & Watches did particularly well in Asia, with waiting lists around the world, specially for the new Tambour watch.

Within Perfumes & Cosmetics, Christian Dior continues to grow with the huge success of the launch of the new range of skincare products, Capture R60/80.

In the current unstable geopolitical climate, LVMH continues to focus its efforts on the development of its major brands, which showed an exceptional ability to grow both market share and profitability in 2002.

LVMH confirms its objective of further tangible growth of operating income in 2003 and giving priority to cash generation.