Pursuits
LVMH to Adjust Vuitton Strategy Amid Stable Leather Sales Growth
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LVMH Moet Hennessy Louis Vuitton SA said it will adjust its strategy at Louis Vuitton, its biggest brand, after reporting no improvement in the pace of sales growth at its fashion and leather-goods unit.
Organic sales at the business rose 5 percent in the fourth quarter, the company said, the same pace as the previous three months when a weaker performance at the unit caused LVMH to report the slowest quarterly revenue advance since 2009. Operating profit from recurring businesses climbed to 5.92 billion euros ($8.04 billion), LVMH said yesterday, in line with analysts’ estimates.