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LVMH: FIRST QUARTER REVENUE INCREASE OF 16%
Paris, 13 April 2015
LVMH Moët Hennessy Louis Vuitton, the world's leading high quality products group, recorded a 16% increase in first quarter 2015 revenue to 8.3 billion Euros. Organic revenue growth was 3% compared to the same period in 2014.
Revenue by business group:
The business group recorded stagnant organic revenue in the first quarter of 2015 as a result of the continued destocking by distributors in China. Despite the situation in this region, Hennessy cognac displayed an overall increase in volume due to the strength of the US market. Other spirits, Glenmorangie and Belvedere, continue to grow. Champagne experienced a good start to the year with solid volume growth.
The business group recorded organic revenue growth of 7% in the first quarter of 2015. Bvlgari continues to deliver good growth driven by the success of its iconic jewelry collections and its new watch for women. Hublot had a very good start to the year while TAG Heuer continued to refocus on its core offering. LVMH watch brands introduced several innovations at the Basel watch fair, during which a partnership between TAG Heuer, Google and Intel to launch a smartwatch was announced.
In , organic revenue growth was 5% in the first quarter of 2015. DFS continued to be faced with a complex situation in Asia and has been impacted by currency and geopolitical developments in certain tourist destinations. Sephora had a remarkable performance and continued to gain market share in all regions. The same-store revenue growth is particularly strong in North America and the Middle East. Online sales are expanding very rapidly.
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 2015, its global leadership position in luxury goods.
Copyright GlobeNewswire
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Source: %s via Globenewswire