Solid growth for LVMH Moet Hennessy Louis Vuitton
LVMH Moet Hennessy Louis Vuitton boosted revenues by 10 per cent to €33.1 billion in the first nine months of this year.
Organic sales grew 11 per cent compared to the same period last year and by 13 per cent after excluding the impact of the closed DFS concessions at Hong Kong International Airport at the end of the year. Every geographic market performed well, the company said. Third quarter revenue was up 10 per cent.
The wines & spirits business group recorded organic revenue growth of 7 per cent during the first nine months, with Champagne volumes stable and Hennessy cognac volumes increased by 4 per cent, led by the US and Chinese markets.
The fashion & leather goods business group achieved organic revenue growth of 14 per cent and 20 per cent reported, with the flagship Louis Vuitton brand the standout performer.
“Ready-to-wear and shoes, in particular, experienced strong momentum with an excellent reception of the last two fashion shows of womenswear and menswear,” the company said in a statement. “A new communication for Louis Vuitton perfumes was unveiled, marking the launch of the brand’s latest perfume creation. Christian Dior, consolidated since the second half of last year, enjoyed an excellent performance.
Celine made progress and began a new chapter in its history with the first runway show of Hedi Slimane, which was a great success and created enormous resonance. Fendi and Loro Piana continued to grow. The other brands continued to strengthen,” the company said.
LVMH Moet Hennessy Louis Vuitton’s perfumes & cosmetics business group recorded organic revenue growth of 14 per cent, driven in particular by the performance of its star brands Christian Dior, Guerlain and Givenchy.
The watches & jewellery business group achieved organic revenue growth of 14 per cent, with Bulgari delivering “an excellent performance and gaining market share”.
The selective retailing business group achieved organic revenue growth of 8 per cent in the first nine months of 2018, and 14 per cent excluding the airport concession closures in Hong Kong.
Sephora’s organic revenue growth was strong, particularly in North America and Asia. The expansion and renovation of its distribution network is continuing with a new store concept in China and the first Sephora-branded store in Russia.
“DFS performed well, especially in Hong Kong and Macao. The recent openings of T Galleria in Cambodia and Italy progressed well.”
The company said that in an “uncertain geopolitical and monetary context, LVMH will continue to be vigilant” in the months ahead.