LVMH Moët Hennessy Louis Vuitton has released its financial results for the first half of 2019, with the luxury conglomerate reporting revenues of €25.1 billion.
Revenue was up 15% over the previous year, with growth particularly strong in the United States, Asia and Europe (sales in France saw a rebound in the second quarter).
Perfumes & Cosmetics: €387 million, up 9% (organic)
Within the perfumes & cosmetics business, flagship brands continued their upswing, with Parfums Christian Dior maintaining “strong momentum” driven by the ongoing strength of perfumes and the “rapid progress” of its makeup and skin care lines. Guerlain’s Rouge G lipstick and Abeille Royale skin care range were cited for a strong year, and the company’s launch of its first digital transparency and product traceability platform was named among the first half highlights. Givenchy, Benefit and Fresh were also noted in the reported.
Selective Retailing: €714, up 17% (organic)
Within selective retailing, which saw organic revenue growth of 8%, Sephora recorded “strong revenue growth and gained market share in all of its locations.” Currently present in 34 countries, the retailer continued to expand its brick-and-mortar presence as e-commerce “advanced rapidly.”
“LVMH has made an excellent start to the year,” said chairman and CEO Bernard Arnault. “These results once again illustrate the effectiveness of our strategy and the exceptional desirability of our maisons, whose products transcend time. Their constant demand for quality and their consistently refreshed creativity are key to LVMH’s success, always guided by a long-term vision, combining exemplarity and responsibility in all the company’s actions.”
He continued: “Despite buoyant demand, we will continue to manage costs and remain vigilant into the second half of the year. We are therefore entering the second half of the year with confidence and count on the talent of our teams and their shared entrepreneurial passion to further increase, once again in 2019, our leadership in the world of high-quality products.”