The United States and Europe saw good progress in the third quarter, as did Asia, despite the difficult context in Hong Kong.
The Wines & Spirits business group of LVMH recorded organic revenue growth of 7 per cent in the first nine months of 2019. Growth was strong in China as well as in the United States due to steady demand. Champagne volumes were down slightly over the period. Prestige vintages experienced strong growth while continuing a price increase policy throughout the range. Hennessy cognac volumes increased by 10 per cent, driven by the VS ranges.
The Fashion & Leather Goods business group achieved organic revenue growth of 18 per cent in the first nine months of 2019. Louis Vuitton enjoyed a remarkable performance in all its businesses and in all regions.
The Perfumes & Cosmetics business group recorded organic revenue growth of 8 per cent in the first nine months of 2019, driven mainly by the momentum of its flagship brands. Parfums Christian Dior performed well, particularly with the vitality of its iconic fragrances and the new Joy and Sauvage ranges. Makeup and skincare were significant areas of growth. Guerlain made remarkable progress, driven by the Abeille Royale skincare and the Rouge G and L’Essentiel makeup lines. Parfums Givenchy saw rapid growth of its new fragrance, L’Interdit, and its makeup line. Fresh, Fenty Beauty by Rihanna and Acqua di Parma made good progress.
In the first nine months of 2019, the Watches & Jewelry business group recorded organic revenue growth of 4 per cent, driven by jewelry. Bvlgari enjoyed an excellent performance, especially in its own stores. Its iconic lines Serpenti, B Zero1, Diva and Fiorever, as well as the new Serpenti Seduttori watch collection contributed to this performance. In watches, TAG Heuer continued to focus on its iconic lines. Hublot made solid progress, continuing to enrich its lines with new models from several collaborations.
The Selective Retailing business group achieved organic revenue growth of 6 per cent in the first nine months of 2019. Sephora recorded steady growth in revenue and gained market share in all key markets. Online sales continued to grow at a rapid pace. The expansion of its distribution network continued with the opening of its first stores in Hong Kong and Auckland. At DFS, the Venice Galleria is enjoying good momentum, benefiting in particular from strong demand from international travellers. DFS continued to grow over the first nine months of the year despite the slowdown in Hong Kong.
Fibre2Fashion News Desk (PC)
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