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H1 revenue soars 19% at luxury goods marketer LVMH
29
Jul '15
Revenues at luxury and premium fashion goods marketer LVMH soared 19 per cent year over year for the six months period to June 30, 2015, driven by strong growth in Europe and the US.

“For the first half of 2015, sales surged to €16.7 billion, up a steep 19 per cent over the first half of 2014. In the same period, LVMH reported 6 per cent growth in organic revenue.

“The Group recorded strong growth in Europe and the United States, while Louis Vuitton had an excellent start to the year,” it said in a press release.

In the second quarter, revenue increased higher by 23 per cent compared to the same period in 2014, while organic sales growth was 9 per cent.

Profit from recurring operations stood at €2,955 million for the first half of 2015, an increase of 15 per cent year on year and group share of net profit amounted to €1,580 million.

The fashion and leather goods business group recorded organic revenue growth of 5 per cent in the first half of 2015, with accelerated growth in the second quarter.

On a reported basis, revenue growth was 18 per cent and profit from recurring operations rose 12 per cent, both growing over the prior year first half.

At the end of the first half, cash from operations before changes in working capital stood at €3.4 billion and it had a net debt to equity ratio of 25 per cent as of the end of June 2015.

According to LVMH, Louis Vuitton continued to illustrate its creative momentum across its collections and leather goods experienced strong growth with the success of models in Monogram and new leather lines.

It also added that Nicolas Ghesquière’s runway shows in symbolic locations received an enthusiastic welcome, while Loro Piana continued its development and benefited from new store openings.

Fendi recorded an excellent performance, in particular in leather goods and accessories and at the same time, Céline, Givenchy and Kenzo experienced strong growth.

“During the period under review, Marc Jacobs and Donna Karan continued the repositioning of their collections, while other brands continued to further strengthen their positions,” LVMH informed.

“Despite the context of economic and currency uncertainties, LVMH will continue to gain market share thanks to the numerous product launches planned before the end of the year,” the luxury goods marketer noted.

CEO Bernard Arnault said, “The excellent results of the first half are witness to the efficiency of our strategy, which relies upon the strength of our brands and a very entrepreneurial style of management.”

“Building on the first half performances, we face the second half of the year with confidence and count on the quality of our products and the talent of our teams to further strengthen our leadership,” he too added.

LVMH also announced that an interim dividend of €1.35 per share will be paid on December 3, 2015. (AR)

Fibre2Fashion News Desk - India

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