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Luxury products Group LVMH Moët Hennessy Louis Vuitton has recorded a +14% increase in revenue, reaching €30.1 billion, for the first nine months of 2017. Organic revenue grew +12% compared to the same period in 2016.
The Group’s third quarter is said to continue the trend recorded in the first part of the year. Total LVMH revenue increased +14%, including a negative currency impact of 5% and a positive structural impact of 7%, reflecting notably the integration of Christian Dior Couture. All business groups recorded double-digit organic growth, with the exception of Wines and Spirits, whose progress was limited by supply constraints.
The Fashion & Leather Goods business group recorded organic revenue growth of +14% for the first nine months of 2017. Louis Vuitton is said to still be driven by its exceptional strength in the field of innovation, illustrated by its first smart watch and the many creations across all of its activities. “The qualitative development of its distribution network continues, as illustrated by the opening of the Maison Louis Vuitton Vendôme in Paris, which brings together under one roof all the savoir-faire of the Maison. Christian Dior Couture, whose business is consolidated for the first time in the third quarter, achieved an excellent performance”, says LVMH.
Fendi is reported to be stepping up its development in the U.S. with the opening of several new stores, while the brands Loro Piana, Céline and Loewe are making good progress. Luggage brand Rimowa has been consolidated since January 2017, while Donna Karan was sold at the end of 2016.
The Group says it will pursue its strategy focused on innovation and targeted geographic expansion in the most promising markets. “LVMH will rely on the power of its brands and the talent of its teams to further extend its global leadership in the luxury market in 2017”.