The Fashion and Leather Goods business group posted a +25% increase in revenue on a reported basis (+16% organic) in the quarter, driven by a “remarkable start to the year” by the Louis Vuitton label. All maisons are said to continue to progress, including Fendi and Loro Piana, which have “rapidly grown in ready-to-wear and shoes”.
The Watches & Jewellery business group recorded a +9% increase in revenue on a reported basis (+20% organic). Watch models that gained good market acceptance include Hublot’s Big Bang Sapphire Tourbillon, Bvlgari’s Octo Finissimo Automatic Tourbillon, and new models in the iconic Monaco and Carrera lines at TAG Heuer and Defy at Zenith.
“In the buoyant environment of the beginning of this year, albeit marked by unfavourable exchange rates and geopolitical uncertainties, LVMH will continue to focus its efforts on developing its brands, maintaining strict control over costs and targeting its investments on the quality, excellence and innovation of its products and their distribution”, said LVMH.