LVMH Suffers Declines in 2009 FINANCIAL, LABEL, MAIN 02.08.10Written By Ben

Moet Hennessy Louis Vuitton has suffered declines in net profit and annual sales in 2009. Though the net sales fell one percent, or $23.48 billion dollars, LVMH insisted that the results were considered “the soundness of its strategy in 2009.”

The profit numbers had gone down eight percent at $2.78 billion dollars this past year. The sales decline came from their Wines & Spirits, Perfumes & Cosmetics, and Watches & Jewelry divisions. Where the company saw a profit was on their Fashion & Leather Goods division, which includes, Givenchy, Leowe, Louis Vuitton, and Marc Jacobs.

Though the results were mixed, what is apparent is the market’s stabilization. LVMH Chairman and CEO, Bernard Arnault stated, “Louis Vuitton in particular delivered another year of growth and has fortified its leading position.”