French multinational luxury goods conglomerate, LVMH recorded revenue of €12.5 billion for the first quarter 2019, an increase of 16%. The group’s organic growth was 11% compared to the same period in 2018. All geographic regions where LVMH brands are present are experiencing good growth.
The fashion & leather goods business group achieved organic revenue growth of 15% in the first quarter of 2019. Louis Vuitton continued its remarkable growth across all of its businesses. Christian Dior Couture performed exceptionally well across all its product categories and regions. At Celine, the new men’s and women’s ready-to-wear collections arrived in stores as the new concept starts to be rolled out. Fendi, Loewe and Berluti are growing fast. Loro Piana’s vicuna and shoe collections performed well. The other maisons continued to progress.
In perfumes & cosmetics, organic revenue increased 9% in the first quarter of 2019, mainly driven by the performance of its iconic brands. Parfums Christian Dior had a very good quarter, demonstrating the continued vitality of its iconic perfumes and benefiting from the recent launch of its new fragrance Joy. In makeup, the Rouge Dior and Diorskin lines enjoyed a remarkable performance. Guerlain experienced strong growth momentum, notably as a result of the sustained growth of Abeille Royale skincare and Rouge G lipstick. Parfums Givenchy performed very well, driven by its Le Rouge and Prisme Libre makeup ranges. Fenty Beauty by Rihanna continued to grow rapidly.
The watches & jewellery business group recorded organic revenue growth of 4% in the first quarter of 2019, driven by the performance of its jewellery segment. Bvlgari made strong progress in its own stores, driven by its iconic lines Serpenti, Divas’Dream, Lvcea and its new Fiorever collection. Chaumet unveiled its new Liens Evidence creations in gold and diamonds.
The innovative products presented by LVMH’s watch brands at the Baselworld Watch & Jewelry Fair were very well received. These included Hublot’s Classic Fusion Ferrari GT watch, Bvlgari’s Serpenti Seduttori and Octo Finissimo Chronograph GMT Automatic watches, TAG Heuer’s connected watch model for golfers, and Zenith’s new Defy Inventor and Defy El Primero 21 Carbon models.
In selective retailing, organic revenue rose 8% in the first quarter of 2019. Sephora recorded strong revenue growth and gained market share over the period, offering its customers an ever more innovative and interactive experience. DFS grew at a steady pace over the period.
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. The group will rely on the talent and motivation of its teams, the diversification of its businesses and the geographical balance of its revenue to reinforce, once again in 2019, its global leadership position in luxury goods.
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