Organic growth, or sales from existing businesses, in the third quarter also exceeded expectations with a 15% increase despite an uncertain global economic climate. In 2010, a year of record profits, organic growth was 14%.
The LVMH name owns the brands of Louis Vuitton, Givenchy, Moet & Chandon and Dom Perignon champagnes and Sephora perfume stores.
LVMH said that sales at luxury luggage brand Louis Vuitton, which generates about 60% of the group’s profit, enjoyed double digit growth in the third quarter.
In July, the company posted net half-year profit of €1.3 billion ($1.9 billion), a 25% jump from the same period last year.