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LVMH with 16% revenue growth

Oct 14, 2019 France
LVMH with 16% revenue growth
Moët Hennessy Louis Vuitton, one of the world’s leading luxury products group, recorded a 16% increase in revenue, reaching 38.4 billion euros in the first nine months of 2019
In the third quarter, the group reported revenue up by 17%, compared to the same period in 2018. Organic revenue growth was 11%, a performance in line with the trend recorded in the first half of the year. The United States and Europe saw good progress in the third quarter, as did Asia, despite the difficult context in Hong Kong.

The Fashion & Leather Goods business group achieved organic revenue growth of 18% in the first nine months of 2019. Louis Vuitton enjoyed a remarkable performance in all its businesses and in all regions. Louis Vuitton continued to strengthen its production capacity with the inauguration in September of a new workshop in France. According to the group, Christian Dior also made remarkable progress. Fendi unveiled several partnerships in the world of art and music. Celine launched its first haute parfumerie collection, for which a dedicated boutique will open soon in Paris. Loro Piana, Loewe and Rimowa enjoyed good progress. The other Maisons continued to strengthen.

The Perfumes & Cosmetics business group recorded organic revenue growth of 8% in the first nine months of 2019, driven mainly by the momentum of its flagship brands. In the first nine months of 2019, the Watches & Jewellery business group recorded organic revenue growth of 4%, driven by jewellery. The Selective Retailing business group achieved organic revenue growth of 6% in the first nine months of 2019. The Wines & Spirits business group recorded organic revenue growth of 7% in the first nine months of 2019. Growth was strong in China as well as in the United States due to steady demand.

Outlook

In a growth environment since the beginning of the year, albeit marked by an uncertain geopolitical context, LVMH says it will continue to be vigilant. The group will pursue its strategy focused on innovation and targeted geographic expansion in the most promising markets. LVMH will rely on the power of its brands and the talent of its teams to further extend its global leadership in the luxury market in 2019. During this quarter and to date, no events or changes have occurred which could significantly modify the Group’s financial structure.

Evelyn Semenyuk on Unsplash

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