News

Oct 13, 2016

LVMH Sees Some Acceleration in Q3, Reports 5% Organic Growth in Jan-Sept 2016

LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, reported a 4% increase in revenue, reaching €26.3 billion, for the first nine months of 2016. Organic revenue grew 5% compared to the same period in 2015, the Company added.

Releasing its figures for the period, LVMH said that Q3 organic revenue growth across segments was higher at 6%, marking an acceleration as compared to the first half of the year. This was most marked in the Perfumes & Cosmetics segment, while Fashion & Leather Goods and Selective Retailing also registered growth in Q3. The company said that Asia, with the exception of Japan, showed significant improvement, while the US and Europe, barring France, remain “well positioned”.

In the Watches & Jewelry business group, the luxury conglomerate recorded organic revenue growth of 4% for the first nine months of 2016. During Q3, revenue in this segment rose from € 852 million to €877 million, with a rise of 2% in actual organic growth.

In the jewellery segment, Bvlgari continued to gain market share and showed major creative momentum by enriching its iconic product lines, notably with the recent launch of Serpenti Seduttori. Among watches, TAG Heuer, Hublot and Chaumet were leading performers.

In other segments, the Wines & Spirits business group recorded organic revenue growth of 7%; Fashion & Leather Goods business group recorded organic revenue growth of 2%; Perfumes & Cosmetics business group recorded organic revenue growth of 8% and Selective Retailing business group recorded organic revenue growth of 6% for the first nine months of 2016.

The Company noted that the geopolitical and currency environment remained uncertain, and its strategy would remain focused on innovation and targeted geographic expansion in the most promising markets.