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LVMH manufactures and sales luxury goods

LVMH manufactures and sales luxury goods, such as designer clothes, fashion accessories, watches and luggage. There are several companies in the group. LVMH has 60 famous brands, such as Louis Vuitton, Givenchy, Kenzo, Christian Dior and Donna Karan. It has 1500 stores worldwide and is expanding its network. It employs 56000 people. Its head office is in France, but 63% of its staff work outside France. Sales at its Louis Vuitton division rose 22%to $1.75bn in the fourth quarter. Total sales at the LVMH group rose 4$to $12.7bn last year. Bernard Arnault, chairman, said that the fashion and leather goods division of LVMH made “excellent progress”. LVMH had excellent sales because of its strong brands, store openings and successful new product launches. One of its new product, the Tambour watch, did not have huge sales but it brought customers into the stores. Sales in the US, France and Japan were good. Fewer Japanese tourists travelled last year, but they bought more goods in their home market. Recently, LVMH opened a large store in Japan, which is doing well. LVMH is a creative and innovative group. It aims to impress its customers with its high quality and long lasting products. Its new products- particularly in cosmetics- depend a lot on research and development. LVMH controls every detail of the brands image.

They like using the Internet. They have lots of money to spend. And they spend a higher proportion of it online than the rest of us. Teenagers are the just the sort of people an Internet retailer wants to sell to, and the things they want to buy –games, CDs and clothing- are easily sold on the Web. But paying online is a tricky business for consumers who are too young to own credit cards. Most have to use a parent`s cards. “Kids are frustrated with the Web” says Phil Bettison, European Managing Director of WorldPay, an Internet payments company.”They wants a facility that allows them to spend money. That may come sooner than they think: new ways to take pocket money into cyberspace are springing up on both sides of the Atlantic. If successful, these products could provide an important stimulus to online sales. In general, teenagers spend enormous amounts: Visa calculates it totaled $153bn in the US last year, while the UK market is estimated at $20bn annually by NOP, the market research group. Most teenagers have access to the Internet at home or at school -88percent in the US, 69percent in the UK. One in eight of those with Internet access has bought something online –mainly CDs and music. In the US, 12-to 17-year-olds spend an average of six hours a month online, according to Jupiter Research. One in six buys things over the Internet, with CDs, books, games, videos and clothing the most popular items. In most cases, parents pay for these purchases with credit cards, an arrangement that is often unsatisfactory for them and their children: “Pressing parents to spend online is less productive than pressing on the high street. A child who sees a pair of shoes in a shop can usually persuade the parent to buy them. They are more likely to ask “way?” if you ask to spend some money online,” says Mike Young of Mondex, the electronic payments company. One way to help them convent notes and coins into cybercash is thought prepaid cards such as Internet Cash in the UK. Similar to those for pay-as-you-go mobile telephones, they are sold in amounts such as $20 or $50 with a concealed 14-digh number that can be used to load the cash into an online account.

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