LVMH global revenue rises 16 per cent in first quarter
LVMH global revenue rose 16 per cent in the first quarter of this year, with Asia and every other geographical market fuelling growth.
Organic growth – excluding acquisitions – was 11 per cent higher than the same period last year.
The fashion-and-leather-goods business saw organic sales rise 15 per cent.
“Louis Vuitton continued its remarkable growth across all of its businesses. Its performance was exceptional, its creativity ever more striking and innovative, and its men’s and women’s Autumn-Winter fashion shows were universally acclaimed,” the company said in a statement.
“The transformational upgrade of its distribution network continued with highly successful and iconic re-openings, including Florence, London’s Sloane Street, Monaco and Shanghai IFC. Christian Dior Couture performed exceptionally well across all its product categories and regions. At Celine, the new Men’s and Women’s ready-to-wear collections arrived in stores as the new concept starts to be rolled out. Fendi, Loewe and Berluti are growing fast. Loro Piana’s vicuna and shoe collections performed well. The other Maisons continued to progress.”
In selective retailing, organic revenue rose 8 per cent, with Sephora recording strong revenue growth and market share gains during the period.
Online sales grew strongly and DFS grew “at a steady pace”.
“The Gallerias of Hong Kong and Macao performed particularly well,” the company reported.
Wine and spirits business sales rose a more modest 9 per cent in the quarter, however Hennessy cognac volumes increased by 11 per cent, driven largely by China and the US.
In perfumes and cosmetics, organic revenue increased by 9 per cent in the quarter.
Parfums Christian Dior had a standout quarter, helped by the launch of its new fragrance Joy.
Louis Vuitton global revenue from watches and jewellery grew the slowest, at just 4 per cent, with watches lagging.