Louis Vuitton Handbag Sales Strong

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LVMH the luxury goods company based in Paris declared stagnant full year net profits as the economic crisis damaged sales of TAG Heuer watches and Moet & Chandon champagne.

But despite the gloom sales of Louis Vuitton's Damier Graphite designer handbags and certain perfumes led to a growth in Q4 revenue.

Net profit for LVMH in 2008 amounted to $2.6 billion ! Not bad for an economic crisis but the same as last year.

High-end clients are limiting purchases during the current economic crisis and a lot of the rich and mot so rich were taken for a ride by Bernard Madoff and his Ponzi scheme

Sales of Champagne fell 4.8% in 2008 in France and abroad.

LVMH said sales rose 4% over the year and Q4.

"The results are totally satisfying given the economic crisis", Chairman and CEO Bernard Arnault said.

HSBC analyst Antoine Belge, said the Louis Vuitton brand had "superior resilience".

Arnault said LV was a "star" brand which "continues to grow whatever the economic environment." He said their policy of not having discounted sales was good for the brand as buyers aren't afraid their handbags will be reduced in price after purchase.

LVMH didn't mak any forecasts for 2009 due to the poor visibility of the economic situation. The company is continuing its planned investments, products launches and store openings.

Sales in January were not bad at all, but visibility is "very weak" going forward.

In Q4 watches and jewelry and wines and spirits all reported a drop in sales.

Perfumes, cosmetics, fashion and leather goods, reported positive revenue growth.

President Barack Obama used to wear a TAG Heuer watch, according to LVMH. before the secret service made hom change it.

If you are considering buying a Louis Vuitton handbag it is worth bearing in mind that 99% of LV goods sold are fakes to be sure of buying a genuine Louis Vuitton bag online you must go to the official Louis Vuitton website. For information on spotting fake LV bags see How to Spot a Fake Louis Vuitton Handbag.

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