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Organic 9M revenues grow 4% at LVMH
Oct '14
Revenues rose by 4% year-on-year at luxury and fashion products marketer – LVMH for the first nine months of 2014, ending September 30.

LVMH said its overall organic sales grew by 4% from €20.62 billion in the first nine months of 2013 to €21.4 billion in the reporting period.

With organic revenue growth of 4% in the third quarter, LVMH said the trend remains comparable to that recorded in the first half of the year.

“An improved growth rate in Europe and the United States during the quarter compensated for the slowdown observed in Asia”, the fashion marketer noted.

The Fashion & Leather Goods business group recorded organic revenue growth of 3% from a year ago period, for the first nine months of 2014.

The segment posted organic sales of €7.67 billion in the nine months of 2014 against €7.13 billion in the comparable period of 2013.

LVMH said Louis Vuitton continued its strong momentum in innovation and creative development driven by Nicolas Ghesquière.

True to the Maison’s spirit of innovation, collaboration and boldness, the launch of the new Monogram collection, as interpreted by six famous designers, will be one of the highlights of the fourth quarter.

Loro Piana remained focused on its strategy of qualitative development. Fendi and Céline made good progress and continued to expand their leather goods and footwear collections while developing their store networks.

“Other brands, such as Givenchy, Berluti and Kenzo, continued to strengthen their positions,” LVMH explained.

LVMH said in an uncertain economic environment, it will continue to focus on innovation and targeted geographic expansion in the most promising markets, on its outlook for the rest of the year.

It also added that 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 2014. (AR)

Fibre2fashion News Desk - India

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