Luxury group LVMH has reported excellent performance in the first half of 2019, with overall revenue reaching 25.1 billion euros, an increase of 15% (or 12% on an organic basis) compared to the same period last year. The company attributes its success to a combination of its effective strategy, the desirability of its brands, and a constant focus on quality and creativity. LVMH continues to prioritize management efforts and vigilance in response to dynamic demand. Chairman and CEO Bernard Arnault expresses confidence in the company’s future success, relying on the talent of its teams and passion for entrepreneurship to strengthen its position in the high-quality product market.
LVMH’s Fashion and Leather Goods segment witnessed double-digit growth, with retail sales increasing by 18%. This growth was driven by the strong performance of Louis Vuitton and Christian Dior, who recently opened a new location on the Champs Elysées. Meanwhile, their historic address on Avenue Montaigne is undergoing renovation.
The Perfumes and Cosmetics segment also experienced significant progress, with a 9% growth rate. LVMH’s flagship brands, including Dior, Guerlain, and Givenchy, performed well, particularly in Asia. The market in Asia has shown a growing sensitivity towards fragrances.
In the Watches and Jewelry business, growth reached 4%. Jewelry, in particular, demonstrated strong dynamics, thanks to the success of Bulgari collections such as Serpenti, Diva, and Fiorever, as well as Chaumet collections like Bee My Love, Liens, and Joséphine. Tag Heuer and Hublot also contributed to the overall strength of LVMH’s watchmaking activities.
The Wines and Spirits division saw a sales increase of 6%, with the United States and Asia displaying a significant appetite for prestigious cuvees.
Looking ahead to the second half of 2019, LVMH plans to launch several new products and expand into promising markets worldwide.
Useful links:
– LVMH Official Website
– LVMH Fashion and Leather Goods
