In The First Half Of This Year The Business Volume of Louis Vuitton Reduces by 7%

It was reported by France Textile News yesterday, the luxury tycoon Louis Vuitton (LV in short term) had a business benefits which was reduced by 12%in the first half of this year, and the pure benefits had reduced by 23% to 687million euro when the business volume had reduced by 7% to 7.8billion euro. Under this situation, the best department of this enterprise was fashion handbag, which had increased by 1% to 2.9billion. And other departments had been affected to reduce for the crisis and retailers’ clearance sale discount. The perfume and make-up, the watch and jewelry, the grape wine and firewater had reduced by 9%, 34% and 22%. It was reported that the strongest market for Louis Vuitton enterprise were Asia and Europe, and America market was possible to go through the crisis shock. But the sale volume of retailers was not good for the difficult environment.

It was reported that although the business volume of Louis Vuitton enterprise hadn’t achieved its prediction target, the president of it Mr. Arnault had pointed out: “we hope our company will strengthen the business volume in the first half year, and enter the next half year with creative and qualified products and affective teams. The ways for LV enterprise is to cut off the cost to suit the crisis, and keep the benefits volume in traditional markets and potential new markets.” Therefore, LV enterprise would reduce the communication budget cost by 9% and business cost by 5% to invest the saved money into the developing new markets, the sale volume of which had achieved to 30% of the entire sale volume of the enterprise.

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