As the global leader in high quality products, Moët Hennessy Louis Vuitton (LVMH) has reported sales of 9.9 billion Euros, up 15% in the first quarter of 2017.
Organic growth stands at 13% (at constant exchange rates) compared to the same period of 2016, a progression to which all the activity groups have contributed. Growth is positive in Asia, Europe and the United States.
During this first quarter, the LVMH group benefited from a favourable comparison base, especially in Europe where the activity had been affected last year by the impact of the November 2015 attacks in Paris. The trend observed at present cannot reasonably be extrapolated at this stage to the year as a whole.
The Watches & Jewellery activity group reported organic sales growth of 11%. Bulgari has won bigger market shares and continues to innovate with new models in its iconic jewellery lines. TAG Heuer has successfully launched its new Connected Modular 45 watch. A number of innovations introduced by the watch brands at Baselworld were extremely well-received, including a re-edition of the TAG Heuer Autavia, the new Octo Finissimo Automatique and Serpenti Skin watches by Bvlgari and the Defy El Primero 21 from Zenith.
The Wines & Spirits activity achieved 13% organic sales growth in the first quarter of 2017. The Fashion & Leather goods sector for its part reported 15% growth, while Perfumes & Cosmetics were up 12% and selective distribution grew by 11%.
In a particularly uncertain environment, LVMH will continue to focus its efforts on the valorisation of its brands; it will maintain stringent cost control and target its investments on the quality, excellence and innovation of its products and their distribution. The group is counting on the talent and motivation of its teams, the diversity of its activities and the good geographical balance of its sales to further strengthen its lead on the global market for high quality products in 2017.
April 20, 2017