March 31, 2011

LVMH CEO says Japan impact on sales limited

March 31 - French luxury group LVMH expects only a limited impact on sales following the disaster in Japan, Chief Executive Bernard Arnault told the company's annual shareholder meeting on Thursday.

Opening ceremony of Bulgari's new flagship store in Tokyo's fashion district Ginza, Japan. LVMH, the world‘s biggest luxury goods maker, acquired a majority stake of the Italian jeweller earlier in March

"The impact should be quite limited, despite everything," Arnault said.

Japan represents 9 percent of group sales, the CEO said, adding that sales had been affected only in the east and the north of the country.

(Reporting by Astrid Wendlandt; Editing by Christian Plumb)

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