- Prachi Singh |
LVMH Moët Hennessy Louis Vuitton, reported an 18 percent increase in revenue, reaching 25.3 billion euros (28.7 billion dollars), for the first nine months of 2015. Organic revenue grew 6 percent compared to the same period in 2014. The Group recorded strong growth in Europe and the United States, and witnessed a considerable rise in Japan.
Revenue growth across categories
The Fashion & Leather Goods business group recorded organic revenue growth of 5 percent. Louis Vuitton continued its growth. Leather goods in particular saw great success with the creativity around Monogram and the craftsmanship on leather. The store evolution, the opening of the house at Asnières on the same site as Louis Vuitton’s historic workshop, marked the third quarter.
Fendi generated strong revenue growth on the back of positive performance of all its products. Loro Piana continued the qualitative development of its store network. Céline, Givenchy and Kenzo experienced sustained revenue growth. Marc Jacobs and Donna Karan continued the repositioning of their collections.
The Perfumes & Cosmetics business group recorded organic revenue growth of 7 percent. Parfums Christian Dior continued to benefit from the momentum of its iconic fragrances J’Adore, Miss Dior and Dior Homme, and its new men’s fragrance Sauvage. The make-up segment also contributed to the growth of the brand with its latest innovation Dior Addict Lipstick. Guerlain was boosted by the growing success of its perfumes and its premium skincare ranges Abeille Royale and Orchidée Impériale. Benefit, Fresh and Make Up For Ever all enjoyed positive performance.
Watch business on a growth track
The Watches & Jewelry business group recorded organic revenue growth of 10 percent. Bvlgari performed remarkably well driven by all product categories and all regions of the world. Hublot grew rapidly and increased its production capacity with the opening of its second production facility in Nyon, Switzerland. TAG Heuer continued the development of its core offering. Its new smartwatch, made in partnership with Google and Intel, will be unveiled in November.
The Selective Retailing business group recorded organic revenue growth of 5 percent. DFS continued to navigate an uncertain geopolitical and currency context in some tourist destinations. Sephora continued to gain market share in all its markets. Comparable store revenue growth was particularly strong. Online sales are rapidly increasing in all regions, confirming Sephora’s leadership in the digital and mobile space.
To focus on innovation and expansion
The company said that in an uncertain economic and financial environment, LVMH will continue its strategy focused on innovation and targeted geographic expansion in the most promising markets. The company 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 2015.