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INTERNATIONAL. LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, has announced a +10% organic rise (at comparable structure and exchange rates) in revenue to €12 billion in the first nine months of 2008.
The Group reported an “exceptional performance” in Q3 from Louis Vuitton despite the difficult global economic context, enabling it to achieve organic revenue growth of +6%. That performance was even more noteworthy, the company said, considering the high comparative figures seen in the third quarter of 2007.
Within Selective Retailing, organic revenue growth was +11%. DFS Group continued its development, said the group, and was buoyed by an increase in Chinese customers. Highlights of the third quarter included the opening of DFS Galleria Macao and the new airport concession in Abu Dhabi. Perfumery chain Sephora also performed well. The brand continued in the third quarter to gain market share in Europe and the US and further established its presence in the Middle East and China.
Among the other business groups, revenue progress was as follows:
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Wines & Spirits achieved organic revenue growth of +5% during the first nine months thanks to an improvement in the price/product mix. Trends seen since the beginning of the year have included strong growth in emerging markets, particularly in China and Russia, but a more contrasting situation elsewhere.
Fashion & Leather Goods achieved organic revenue growth of +12% during the first nine months of the year. Louis Vuitton recorded double-digit organic revenue growth during the period. Its new collection, Damier Graphite, successfully established itself during the summer alongside the star Monogram line, which is still enjoying exceptional momentum. Accessories continue to see strong progress. Good progress in the other brands, notably Fendi, Donna Karan, Marc Jacobs and Givenchy, continued into the third quarter.
Perfumes & Cosmetics posted organic revenue growth of +11%. For Christian Dior, the third quarter included the successful launch of the new male perfume Dior Homme Sport, the confirmed achievement of Escale à Portofino and growth in make-up and skincare. Guerlain benefited from the excellent progress of its new mascara Le 2. The new perfume, Guerlain Homme, and Givenchy’s Phenomen’Eyes mascara, were among the numerous innovations noted to have supported the business group’s revenue. BeneFit continues to demonstrate rapid growth and confirmed its strong potential, LVMH said.
Watches & Jewellery achieved organic revenue growth of +9%. TAG Heuer developed its high-end product strategy, illustrated by the success of its GrandCarrera collection. Hublot saw strong revenue gains in all its regions. Zenith recorded particularly strong increases in the Middle East. De Beers saw a high level of growth in revenue, including in the US.
The Group said: “LVMH relies on the considerable appeal of its products and brands to continue the momentum it has enjoyed since the beginning of the year, despite the current global economic and financial crisis.” LVMH confirmed its objective of “a tangible increase” in its results in 2008.
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