Home / Knowledge / News / Fashion / LVMH refuses to do business with Amazon, for now
LVMH refuses to do business with Amazon, for now
15
Oct '16
Moët Hennessy Louis Vuitton, popularly known as LVMH, has refused to do business with e-commerce giant Amazon, at least for the time being as it believes that it is not an appropriate platform for the brand's products. The web portal sells products from brands such as Kate Spade, Calvin Klein and Michael Kors but fails to attract the big names.

In a conference call with investors after announcing the group's quarterly sales, LVMH group chief financial officer Jean-Jacques Guiony said that the business of Amazon does not fit with the brand and there is no way the group can do business with them for the time being, media reports said.

The LVMH group recorded a 4 per cent increase in its revenue, reaching €26.3 billion, for the first nine months of 2016. Organic revenue grew 5 per cent compared to the same period in 2015, says the company's website.

With organic revenue growth of 6 per cent, the third quarter saw an acceleration compared to the first half of the year. Asia, excluding Japan, showed a significant improvement during the quarter. “The United States remains well positioned, as does Europe, with the exception of France which continues to feel the impact of a decline in the number of tourists,” LVMH said.

The fashion business of the group recorded organic revenue growth of 2 per cent for the first nine months of 2016 with an acceleration in the third quarter. Fendi generated a significant revenue growth. Céline, Loewe and Kenzo also experienced good growth.

Marc Jacobs continued the repositioning of its collections and Loro Piana inaugurated a flagship store in Paris. The group also said in its report that an agreement was announced for the sale of the Donna Karan business. Online sales of the group's luxury products also increased in all regions. (KD)

Fibre2Fashion News Desk – India


Must ReadView All

'Knitting machines can be used for various applications'

Textiles | On 21st Aug 2018

'Knitting machines can be used for various applications'

Flat knitting machines have the potential of being used for a number...

Revise trade laws, tariffs: US envoy to India

Textiles | On 21st Aug 2018

Revise trade laws, tariffs: US envoy to India

Urging India to rethink trade barriers, tariffs and regulations, US...

Indian team finds way to cut water use in textile industry

Textiles | On 21st Aug 2018

Indian team finds way to cut water use in textile industry

Researchers at the department of chemistry in Calicut University in...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Tina Antoniades

India-headquartered Lulu & Sky is a rapidly escalating brand with the...

Yash Jain & Sanjeev Jain

Divyam Export, launched about 30 years ago, exports to 15 countries,...

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Justin Chan & Shyam Gollakota
University of Washington

A fabric that can store data without any electronics or batteries has been ...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search