Following its partnership with private equity firm Catterton to for L Catterton, LVMH has announced that its first-half 2016 perfume and cosmetic sales rose 5%, totaling 2,337 million euros, compared to 2,228 million euros in the same period 2015.
“LVMH’s results for the first half of 2016 reflect, more than ever, the strength of our business model, which allows us to continue to grow even during an unstable geopolitical environment and economic and monetary uncertainties," said Bernard Arnault, chairman and CEO of LVMH. "The diversity of our businesses, the entrepreneurial style of our brands and the agility of our organization all contribute to the growth of the group. By remaining vigilant, we face the second half of the year with confidence and count on the quality of our products and the talent of our teams to further strengthen our leadership in the world of high quality products in 2016.”
The overall company recorded revenue of €17.2 billion in the first half of 2016, an increase of 3%.
"The American market is dynamic, while Europe remains on track, with the exception of France, which has been affected by a decrease in tourism," the company noted. "Asia improved steadily during the period."