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Revenues soar 18% at LVMH in nine months to Sept 2015
15
Oct '15
For the first nine months of 2015, fashion and luxury goods marketer LVMH said its revenues soared 18 per cent year on year.

For the nine months to September 30, 2015, LVMH's sales surged 18 per cent from the same period of 2014 to reach €25.3 billion, while organic revenue grew 6 per cent.

For the third quarter ended September 30, 2015, the company reported organic revenue growth of 7 per cent year over year, a trend that remained unchanged from the third quarter of 2014.

According to LVMH, the Group continues to deliver strong growth in Europe and the United States, and is seeing acceleration in Japan.

The Fashion & Leather Goods business group, which is the highest revenue generator among all it's business unit's saw its sales drive up to €8.87 billion, up 16 per cent over a year ago period.

For the first nine months of 2015, organic revenue growth at the Fashion & Leather Goods business group stood at 5 per cent.

“Louis Vuitton continued its growth and displayed strong creative momentum in all of its collections,” the company added.

“Leather goods in particular saw great success with the creativity around Monogram and the craftsmanship on leather,” it informed.

The tghrid quarter was marked by the opening of the house at Asnières on the same site as Louis Vuitton's historic workshop.

Fendi generated strong revenue growth thanks to the excellent performance of all its products, while Loro Piana continued the qualitative development of its store network.

“Céline, Givenchy and Kenzo experienced sustained revenue growth and Marc Jacobs and Donna Karan continued the repositioning of their collections,” LVMH observed.

In an uncertain economic and financial environment, LVMH further added that it will continue its strategy focused on innovation and targeted geographic expansion in the most promising markets.

LVMH will rely on the power of its brands and the talent of its teams to further extend its global leadership in the luxury market in 2015.

“During the quarter and to-date, no events or changes have occurred which could significantly modify the group's financial structure,” the company noted. (AR)

Fibre2Fashion News Desk – India

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