- Prachi Singh |
In its first quarter, LVMH Moët Hennessy Louis Vuitton, reported revenue of 12.5 billion euros (14.1 billion dollars), an increase of 16 percent, while the company said, organic growth was 11 percent compared to the same period of 2018.
The group’s fashion & leather goods business group achieved organic revenue growth of 15 percent or 20 percent reported to 5,111 million euros (5,765 million dollars) in the first quarter with Louis Vuitton continuing its growth across all of its businesses. The company added that upgrade of its distribution network continued with re-openings, including Florence, London's Sloane Street, Monaco and Shanghai IFC. Christian Dior Couture also performed well across all its product categories and regions, while Fendi, Loewe and Berluti also witnessed rise in sales.
Review of LVMH’s performance across other product segments
In perfumes & cosmetics, the company’s organic revenue increased 9 percent or 12 percent reported to 1,687 million euros (1,903 million dollars) in the first quarter, mainly driven by the performance of its iconic brands. The watches & jewelry business group recorded organic revenue growth of 4 percent or 9 percent reported to 1,046 million euros (1,180 million dollars), driven by the performance of its jewelry. A pop-up store was opened in the Saint-Germain quarter in Paris while its store in Place Vendôme is under renovation.
In selective retailing, organic revenue rose 8 percent or 13 percent reported to 3,510 million euros (3,959 million dollars). Sephora, LVMH said, recorded strong revenue growth and gained market share over the period. A new flagship store opened in the new Hudson Yards development in New York. Online sales also saw strong growth.
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