LVMH. H Sales. 22 July 2004

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Hollie Singleton
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1 LVMH H Sales 22 July 2004

2 LVMH H Sales highlights 2 Q1 sales trends accelerate in Q2 Strong increase in Wines & Spirits volumes and improved product mix Continued double-digit sales growth at Louis Vuitton Strong performance at Watches & Jewelry Continued high comparable store sales growth at Sephora US Good sales growth at DFS

3 LVMH H Sales 3 In millions of Euros Organic + 14% Structure -1% Change -5% Q1 Q H H1 2004

4 LVMH H Sales by Region in Euros 4 In % of total sales Others 6% Asia 16% Japan 15% France 17% Europe 19% USA (inc. Hawaii) 27% H1 2004

5 LVMH H Sales Growth in the US in Dollars 5 H Champagne & Wines +19% Cognac & Spirits +38% Fashion & Leather Goods +23% Perfumes & Cosmetics -25%* Watches & Jewelry +35% Selective Retailing +28% Total LVMH Group +22% * Essentially due to structural effects : sale of Bliss and US fragrance licenses

6 LVMH H Sales Growth in Japan in Yen 6 H Champagne & Wines +20% Cognac & Spirits -15% Fashion & Leather Goods -2% Perfumes & Cosmetics +10% Watches & Jewelry +9% Selective Retailing +41% Total LVMH Group +0%

7 Wines & Spirits H Sales 7 In millions of Euros Organic +19% Structure +2% Change -7% Champagne & Wines Cognac & Spirits Q1 Q H H1 2004

8 Wines & Spirits H Sales Highlights 8 Champagne: volumes up 13% (excluding Canard Duchêne) Good performance in the UK, US and Japan Strong worldwide launch of Dom Pérignon 1996 Price increases successfully implemented in all regions Strong sales growth of still wines in US and Argentina Cognac: volumes up +13% (excluding Hine) Sustained activity in the US and Asia (esp. China and Taiwan) Good momentum of XO Improved product mix

9 Fashion & Leather Goods H Sales 9 In millions of Euros Organic +11% Structure 0% Change -4% Q1 Q H H1 2004

10 Fashion & Leather Goods H Sales Highlights 10 Louis Vuitton: double -digit sales growth on top of strong sales in H Continuous strong local demand in the US and Asia Good performance in Europe driven by both local demand and gradual recovery in tourism Strong sales growth at Celine, Loewe, Marc Jacobs, Pucci and Berluti Encouraging sales performance at Fendi, in the US, Japan and Asia in particular Donna Karan continues to focus on strategic repositioning

11 Perfumes & Cosmetics H Sales 11 In millions of Euros Organic +7% Structure -4% Change -3% Q1 Q H H1 2004

12 Perfumes & Cosmetics H Sales Highlights 12 Good sales progress at Parfums Christian Dior, notably in Japan and for the make-up segment Guerlain: good performance thanks to L Instant Parfums Givenchy: strong sales of Givenchy Pour Homme, especially in Europe, and Le Make-up Strong growth at BeneFit Cosmetics, Parfums Loewe and Fresh Refocusing US distribution Planning several fragrance launches

13 Watches & Jewelry H Sales 13 In millions of Euros Organic +32% Structure - 15% Change -5% 235 Q1 Q H H1 2004

14 Watches & Jewelry H Sales Highlights 14 Continuous strong recovery with double -digit sales growth for all Group s brands TAG Heuer: highly successful Basel watch fair, with new products including Monaco V4, F1, Zenith: strong sales growth in the US, Asia and Japan Montres Dior: good performance in France and UK Chaumet: strong growth in Europe thanks to high-end jewelry line Frisson

15 Selective Retailing H Sales 15 In millions of Euros Organic +21% Change Structure -7% 0% Q1 Q H H1 2004

16 Selective Retailing H Sales Highlights 16 DFS continues to benefit from: Sales and marketing initiatives in Gallerias Recovery in tourism, especially tourists from China Sephora Europe: good sales momentum Introduction of innovative new products and services Successful advertising campaigns Well received loyalty program Sephora US: excellent performance Continuous double -digit comparable sales increases Over 90 stores nationwide

17 LVMH Conclusion 17 All around good sales performance in H Estimated operating income about +12% Continue to focus on star brands, profitability and cash flow Confirm objective of significant increase in operating income in 2004

18 LVMH 2004 H1 Sales 22 July 2004

LVMH. Q Sales. October 14, 2004

LVMH. Q Sales. October 14, 2004 LVMH Q3 2004 Sales October 14, 2004 LVMH Q3 2004 Sales Highlights 2 Strong organic sales growth continued All business groups achieved positive Q3 organic growth Louis Vuitton continued its double-digit