LVMH Watch & Jewelry Sales €656 Mln for First 3 Quarters

LVMH Moet Hennessy Louis Vuitton reported revenues of €12 billion ($16.2 billion) for the first nine months of 2008, reflecting 10 percent organic growth, the luxury products group said in a statement.

Sales by the watch and jewelry group increased 9 percent in terms of organic growth to 656 million euros ($890 million).

LVMH in the statement confirmed its objective of a tangible increase in its results for 2008.

“LVMH relies on the considerable appeal of its products and brands to continue the momentum it has enjoyed since the beginning of the year, despite the current global economic and financial crisis.”