LVMH Moët Hennessy Louis Vuitton, the world’s leading producer of luxury goods, recorded sales of 8.6 billion Euros in the first quarter of 2016, an increase of 4%. Organic growth was up 3% compared to the same period in 2015.
The American market is dynamic and Europe remains well placed, save for France which is suffering from a decline in tourism. Asian markets present a mixed picture, while Japan continues to make good progress. The Watches and Jewellery division recorded organic sales growth of 7%, outperforming the market. Bvlgari turned in an excellent performance, buoyed by the success of its emblematic jewellery lines and new products.
Presenting good quarterly figures, TAG Heuer benefited from its successful strategy of focusing on its core range. Its new smartwatch has been a resounding hit. A number of innovations presented by LVMH watch brands at Baselworld have been very warmly received.
Wines and Spirits activity registered organic growth of 6% in terms of sales for the first quarter of 2016. Fashion & Leather Goods for their part remained stable. In Perfumes & Cosmetics, organic sales growth was 9%, while in Selective Distribution the increase was 4%. LVMH will continue to concentrate its efforts on showcasing its brands, maintaining strict cost control and targeting investments in the quality, excellence and innovation of its products and their distribution. The group can rely on the talent and motivation of its teams, the diversity of its skills and the good geographical balance of its sales to reinforce still further its progress on the global high-quality products market in 2016.
April 21, 2016