October 26, 2011 / 10:23 AM / 7 years ago

STXNEWS LATAM-LVMH seeks rapid Brazil expansion-report

LVMH Moet Hennessy Louis Vuitton SA (LVMH.PA), the world’s biggest maker of luxury goods, will open three stores in Brazil by the end of next year, increasing its presence in the Latin American country by 50 percent, Valor Economico newspaper reported on Wednesday, citing an interview with Yves Carcelle, who heads the company’s Louis Vuitton division.

Louis Vuitton, the brand that is famous for its luxury bags and luggage, will open no more than six to seven boutiques a year around the world, down from 35 three years ago, Carcelle told the newspaper. Calls made to the French company’s Sao Paulo-based unit to confirm Carcelle’s comments were not immediately answered. Reuters Messaging: guillermo.parra.reuters.com@reuters.net

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