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LVMH: 4% REVENUE GROWTH IN 2016 FIRST QUARTER
Paris, April 11 2016
LVMH Moët Hennessy Louis Vuitton, the world's leading high quality products group, recorded revenue of 8.6 billion Euros for the first quarter 2016, an increase of 4%. Organic revenue growth was 3% compared to the same period in 2015.
Revenue by business group:
The business group recorded organic revenue growth of 6% in the first quarter of 2016. Champagne experienced a strong start to the year especially in Europe where growth continued. Hennessy maintained its remarkable performance in the United States. In China, the first quarter showed better momentum after the impact of destocking by distributors in 2015. Other spirits, Glenmorangie and Belvedere, continued to grow.
The business group recorded organic revenue growth of 7% in the first quarter of 2016 outperforming the market. Bvlgari recorded an excellent performance driven by the success of its iconic jewelry collections and innovations. TAG Heuer had a good quarter, benefiting from its successful strategy of focussing on its core offering. The new connected smartwatch was an immense success. A number of LVMH watch brand innovations were extremely well received at the Basel Watch fair.
In , organic revenue growth was 4% in the first quarter of 2016. Sephora gained market share around the world. North America maintained its exceptional growth rate. DFS continues to be faced with an uncertain economic environment in Asia. The opening of the in Siem Reap in Cambodia was a highlight of the quarter.
LVMH will continue to focus its efforts on developing its brands, will maintain a strict control over costs and will target its investments on the quality, the excellence and the innovation of its products and their distribution. The Group will rely on the talent and the motivation of its teams, the diversification of its businesses and the good geographical balance of its revenue to increase, once again in 2016, its global leadership position in luxury goods.
Copyright GlobeNewswire
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Source: %s via Globenewswire