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LVMH posts 12% growth in Q4 FY19

29
Jan '20
Pic: LVMH
Pic: LVMH
LVMH, world's leading luxury products group, posted a revenue growth of 12 per cent in fourth quarter (Q4). Total revenue for the period that ended on December 31, 2019 was €15.27 billion. Europe and the US experienced good growth over the year and despite a difficult environment in Hong Kong in the second half of 2019, Asia too performed well.
 
The Group recorded revenue of €53.7 billion in 2019, up 15 per cent year-on-year, according to a company press release.. 
 
The Fashion & Leather Goods business group achieved organic revenue growth of 17 per cent in 2019. Profit from recurring operations was up 24 per cent. Louis Vuitton continued to deliver an exceptional performance and Christian Dior too had a remarkable year.
 
The Wines & Spirits business group achieved organic revenue growth of 6 per cent. Profit from recurring operations increased by 6 per cent. The different regions contributed in a balanced way to its growth. 
 
The Perfumes and Cosmetics business group achieved organic revenue growth of 9 per cent driven by the remarkable momentum of its major brands, notably Dior, Guerlain and Givenchy. Profit from recurring operations was up 1 per cent after taking into account an exceptional depreciation of the product lines of certain young American brands. Skincare grew, underpinned notably by the demand in Asia. Christian Dior continued to grow much faster than the market.
 
The Watches and Jewellery business group recorded organic revenue growth of 3 per cent. Profit from recurring operations were up 5 per cent. Bvlgari continued to perform very well and to strongly increase its market share. As distribution evolved rapidly within the watchmaking sector, TAG Heuer continued to work with its partners to provide an increasingly selective and efficient distribution network, while pursuing its creative resurgence. 
 
The Selective Retailing business group achieved organic revenue growth of 5 per cent. Profit from recurring operations was up 1 per cent. Sephora is reported to be experiencing strong growth and continues to gain market share. Growth was particularly strong in Asia and the Middle East. Online sales grew rapidly throughout the world. In the second half of 2019, DFS faced a slowdown in tourism in Hong Kong, which is an important market.
 
In an uncertain geopolitical context, LVMH is well-equipped to continue its growth momentum across all business groups in 2020. The Group will pursue its strategy focused on developing its brands by continuing to build on strong innovation and investments as well as a constant quest for quality in their products and their distribution. 
 
Driven by the agility of its teams, their entrepreneurial spirit, the balance between its different businesses and geographic diversity, LVMH has entered 2020 with cautious confidence and once again, set an objective of reinforcing its global leadership position in luxury goods.

Fibre2Fashion News Desk (JL)


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