Slower leather performance for LVMH

Worldwide
Published:  13 October, 2015

The French luxury group reports a mix of steady growth for most of its divisions but revenues from the leather and fashion sectors slowed down for the third quarter of 2015.

The fashion and leather divisions, which represent LVMHs key business with high-end brands such as Louis Vuitton, Cline and Marc Jacobs, have reported a revenue growth of 3%, down from 10% in the previous quarter.

The group, which also owns brands such as Tag Heuer, Bulgari, Dior perfumes and Hennessy cognac, posted overall revenue growth of 7% for the third quarter, slightly higher than expected by some market experts.

At the announcement of its results, LVMHs shares in the French capital fell 2.9% to 161.75 yesterday morning (October 12).

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 said in an official statement.

The leather and fashion division account for more than a third of LVMHs total sales.

Sources: Reuters, Bloomberg

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