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LVMH Q1'14 organic revenue climbs 6%
10
Apr '14
LVMH Moët Hennessy Louis Vuitton, the world’s leading high quality products group, recorded a 4% increase in first quarter 2014 revenue to 7.2 billion Euros. Organic revenue growth was 6% compared to the same period in 2013.
 
The Group continued to grow in the United States and Asia. Growth was strong in Japan in the quarter for reasons specific to that country. Europe demonstrated resilience in a still challenging economic environment. Louis Vuitton had an excellent start to the year, while Wines & Spirits were impacted by the current situation of destocking in China.
 
The Wines & Spirits business group recorded a decrease in organic revenue of 3% in the first quarter of 2014, a trend explained by the performance of cognac in China, linked to current destocking by retailers. However, its dynamic presence in certain segments of the Chinese market and its solid growth in the United States contributed to the resilience of cognac in the quarter. Other spirits, Glenmorangie and Belvedere, recorded good growth in volumes. Champagne experienced a good start to the year. The prestige vintages, in particular, recorded strong growth.
 
The Fashion & Leather Goods business group recorded organic revenue growth of 9% in the first quarter of 2014. Louis Vuitton was propelled by a strong creative momentum. The first show of its new artistic director, Nicolas Ghesquière, was enthusiastically received. 
 
New models in the iconic Monogram line were very successful, while the leather lines continue their development. Other fashion brands continue to grow. The quarter was marked by the opening of flagship stores in Munich for Fendi and in London for Céline. Loro Piana, whose activity is consolidated for the first time this quarter, delivered a remarkable performance.
 
In Perfumes & Cosmetics, organic revenue growth was 5% in the first quarter of 2014. Christian Dior continued to benefit from the excellent dynamics of its iconic perfumes J’adore and Miss Dior. Make-up also contributed to the good performance of the Maison. Guerlain successfully rolled out its high-end skincare range, Abeille Royale, in Asia. La Petite Robe Noire fragrance goes from success to success. Benefit continued its rapid progress around the world, supported by its innovative product lines, and Fresh expanded rapidly.


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