Update 1-LVMH says no significant decline in Q3 Louis Vuitton

PARIS 16, October (Reuters) - French luxury group LVMH announced its flagship product, the Louis Vuitton brand has no major slowdown in like-for-like sales growth in the third quarter subject of the previous three months. The Paris-based group reassured investors worried that the growth of the brand has been losing momentum, particularly in Asia, after enjoying years of strong growth, sending the stock to close up 3.6 percent to € 128.25. Prada Tote Bags "There is no greater slowdown in the third quarter compared to the second quarter," LVMH Chief Financial Officer Jean-Jacques Guiony during a conference call with analysts on Tuesday, a day after reporting third-quarter sales. "Our numbers for Louis Vuitton are quite comparable with the second quarter." Guiony but added that there was "some slowdown here and there", especially in Asia, excluding China, where it is. Less number of tourists this year compared to last year The CFO said that there was no decline in the demand for products of Louis Vuitton - include LV bags, facilitating costs 600 euros ($ 780) - but it was the high comparative figures for the year. With respect to the performance of Louis Vuitton sales worldwide Guiony said: "Europe is a little higher, the United States is a little lower and near China (first half), with low single-digit (growth)." Council Bain & Co estimates the luxury of global sales growth of 10 percent this year, current exchange rates, slowing from 11 percent in 2011. "Vuitton is growing faster than that," said Guiony. Fashion-savvy Louis Vuitton, the. The first luxury brand in the world's largest in terms of sales, with sales of over $ 7 billion, which is about 75 percent of sales of fashion and leather goods, LVMH parent There was some concern among investors that fall luxury Chinese consumers began in love with brands like Louis Vuitton and Gucci, as it was more fashion-savvy. Encouraged some investors believe the Chinese government against corruption with growing criticism of conspicuous consumption has joined the Chinese consumers opt for less than subtle brand logo, luxury goods. In its report published on Monday, Bain said the Chinese, the largest global customers of luxury goods in front of the Japanese, the Americans and Europeans. They also had more sophisticated ", from brand logo overexposed products of absolute quality." Guiony conceded there was a "wait and see" attitude among buyers of luxury goods in China due to the change of government, which means that it will be to fade "over the fourth quarter" offers. The sales of LVMH fashion and leather goods rose by 5 percent generated in the third quarter, compared with 8 percent in the second quarter and 12 in the first three months of the year.