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LVMH Records Record Revenue of €20.7 Billion for First Nine Months of 2013
Posted: October 15, 2013
LVMH Moët Hennessy Louis Vuitton recorded revenue of €20.7 billion for the first nine months of 2013, an increase of 4% over the comparable period in 2012. Organic revenue grew by 8%.
The company's wines & spirits and watches & jewelry business groups both accelerated their respective growth rates when compared to the first half of 2013, while the performance of the company's other business groups was comparable to the start of the year. Additionally, Europe has shown good resilience for LVMH, and the U.S. and Asia continue to record strong growth.
LVMH's perfumes & cosmetics business group registered organic revenue growth of 5% (2% reported growth) for the first nine months of 2013, coming in with a revenue of €2.683 billion. Parfums Christian Dior continued its growth, fueled by the performance of its iconic products and its innovations, and the continued success of J'Adore and Dior Homme, as well as the development of Rouge Dior makeup, were among the highlights of the last quarter. At Guerlain, a new campaign was devoted to the iconic fragrance Shalimar while La Petite Robe Noire celebrated its first anniversary. And Fresh, Benefit and Make Up For Ever continued to record good growth, particularly in Asia where the brands are expanding their distribution.
For its selective retailing business, LVMH achieved organic revenue growth of 19% (16% reported) for the first nine months of 2013, totaling €6.316 billion in revenue. DFS sales are growing strongly, driven by the excellent performance of its Gallerias in Macao and Hong Kong and the integration for the first time this year of the activities of its three new Hong Kong airport concessions. Sephora continues to gain market share in key regions, and same-store sales growth was particularly strong in the U.S. and Asia. The expansion of the distribution network continues with several openings in the last quarter, and online sales are also experiencing rapid growth in all regions.
In regard to the company's overall outlook, despite the uncertain economic environment in Europe, LVMH remains confident for 2013. IT will continue its proactive strategy centered on innovation and targeted geographic expansion in the most promising markets and will rely on the power of its brands and the talent of its teams to further extend, in 2013, its global leadership in the luxury market.