DFS boosts LVMH six-month sales

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DFS Galleria sales have grown as Asian tourist numbers return, contributing to sales growth of 8% at parent company LVMH

Duty-free retailer DFS and beauty retailer Sephora have achieved sales of Eu1.5bn ($1.9bn) in the first half of 2004, up 14% from the same period last year. The strong performances helped parent company LVMH Moet Hennessy-Louis Vuitton achieve consolidated sales of Eu5.7bn ($7.1bn) in the first half of 2004, up 8% over the same period last year.

The luxury goods group said on Thursday that DFS sales increased strongly in the first half thanks to a healthy return from its Galleria stores and the general recovery in tourism. The group's overall provisional, unaudited operating profit for the first half of 2004 grew by 12% compared to the same period last year.

Sephora gained market share in France over the period and "continued its strong performance" in the US, the company added, with online arm Sephora.com achieving "spectacular sales growth."

Wines & Spirits sales grew by 14% during the period to reach Eu1.54bn ($1.93bn). LVMH said the rapid development of Hennessy in China and Taiwan helped the group achieve "spectacular growth" in the region.

Fashion & Leather Goods produced sales growth of 7% to reach Eu2bn ($2.5bn). Louis Vuitton continued to achieve "double-digit sales growth" with strong performances in the US and Asian markets, the company said.

The Perfumes & Cosmetics category produced zero growth with sales of Eu973m ($1.2bn), although LVMH said Christian Dior achieved "good growth" in Japan and in the make-up segment.

Watches & Jewellery produced sales of Eu235m ($294m), up 12% from last year, with TAG Heuer and Zenith singled out as the strongest performing brands.