- Prachi Singh |
LVMH Moët Hennessy Louis Vuitton recorded revenue of 10.9 billion euros (13.4 billion dollars) for the first quarter 2018, an increase of 10 percent. The company said, organic growth was 13 percent compared to the same period of 2017, an increase to which all business groups contributed. It was 15 percent excluding the impact of the termination of the Hong Kong international airport concession at the end of 2017. The company added that Asia, the United States and Europe experienced good growth.
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The fashion & leather goods business group achieved organic revenue growth of 16 percent to 4,270 million euros (5,259 million dollars) in the first quarter. Louis Vuitton, the company said, made a remarkable start to the year with its latest fashion show at the Louvre museum in Paris receiving a positive welcome. Virgil Abloh was named men’s Artistic Director during the period. Christian Dior Couture, which was consolidated into the group in July 2017, appointed Kim Jones as Artistic Director of Dior Homme. Fendi and Loro Piana grew rapidly, while Hedi Slimane joined Céline as Artistic, Creative and Image Director.
LVMH business segments perform well in Q1
In perfumes & cosmetics, organic revenue increased 17 percent to 1,500 million euros (1,847 million dollars) in the first quarter of 2018. In the first quarter of 2018, the watches & jewelry business group recorded organic revenue growth of 20 percent to 959 million euros (1,181 million dollars). In selective retailing, organic revenue rose 9 percent to 3,104 million euros (3,822.7 million dollars) in the first quarter of 2018 or 16 percent excluding the termination of the Hong Kong international airport concession.
Sephora continued to gain market share around the world. The new store concept continued its roll-out, particularly in France with a new flagship store in the Saint-Lazare district of Paris. Online sales grew rapidly all over the world. DFS enjoyed an excellent start to the year, performing particularly well in the T Gallerias in Hong Kong and Macao. With an offering adapted to suit the demands of international travellers, the recently opened stores in Cambodia and Italy, LVMH said, showed strong performance.
Picture:Louis Vuitton website