Profit Up for Dunhill, Seller of Luxury Items
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LONDON — Dunhill Holdings, the luxury consumer products company, reported a 3% rise in annual profit Tuesday, showing that perfumes, jewelry and designer clothes sell well even in a recession.
The company said pretax profits were a record $139.3 million in its fiscal year ending in March. Sales jumped 12% to $466.6 million.
Dunhill, 57% owned by Rothmans International, said it bought the businesses and trademarks of top fashion designer Karl Lagerfeld from Revillon Luxe for about $29.3 million.
Lagerfeld, who designs for Chanel and Fendi, will now work for Dunhill’s Chloe designer label.
Dunhill said the results were very satisfactory, given the severe recession in many of its markets.
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