LVMH sees revenues rise to €19.96bn in Q3
The perfumes and cosmetics category reported a 8% increase, watches and jewellery saw a 3% increase, and wines and spirits fell by 10%
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Luxury goods group Moët Hennessy Louis Vuitton (LVMH) has posted reported revenues of €19.96bn (£17.25bn), up 9% year on year, in the three months ending on September 30.
On a nine-month basis it also saw revenues jump 10% to €62.2bn (£53.7bn). All business groups reported sustained organic revenue growth over the period, with the exception of Wines and Spirits, which it said faced a high basis of comparison.
LVMH’s fashion and leather goods category reported €30.9bn (£26.70bn) in sales, earning a 11% increase from last year’s numbers.
According to LVMH, the increase in sales was driven by “remarkable growth in all product categories” from the French fashion house Christian Dior, “the success of the latest new leather goods designs” at Loewe under creative director Jonathan Anderson, “the expansion of the retail network at Fendi,” and “excellent performance” from the brands Rimowa, Marc Jacobs, and Berluti.
Meanwhile, on a category basis, its perfumes and cosmetics category reported a 8% increase to €6.02bn (£5.20bn), watches and jewellery also saw a 5% increase to €7.95bn (£6.87bn), and wines and spirits fell by 10% to €4.68bn (£4.04bn).
Overall Europe, Japan and the rest of Asia achieved double-digit organic growth.
Looking ahead, the group stated that in an uncertain economic and geopolitical environment, it is “confident” in the continuation of its growth and will maintain a strategy focused on continuously “enhancing the desirability of its brands, drawing on the authenticity and quality of its products, excellence in distribution and agile organisation”.
