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LVMH says sales 'doing well' in US despite slowdown

Wed May 28, 2008 9:17pm EDT

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TOKYO, May 29 (Reuters) - Sales of the Louis Vuitton brand as well as watches and jewellery continue to do well in the United States despite an economic slowdown and a weak dollar, said Toni Belloni, group managing director at LVMH Moet Hennessy Louis Vuitton (LVMH.PA), the world's largest luxury group.

Investors have been looking at luxury goods makers for signs of cooling demand for luxury goods such as watches, designer clothes and jewellery amid fears of a global economic downturn.

Belloni told delegates at a luxury goods conference in Tokyo that the Louis Vuitton brand was doing "extremely well" in the United States.

"Jewellery, watches continue to do very well," he said. He later added: "We haven't seen a significant slowdown in the United States."

(Reporting by Sophie Hardach)



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