LVMH's Q1 revenue rises 16%

14 Apr '15

2 min read

French multinational luxury goods conglomerate LVMH Moët Hennessy Louis Vuitton has recorded a 16 per cent year-on-year increase in revenue in the first quarter of 2015 to €8.3 billion. According to an LVMH statement, organic revenue growth was 3 per cent compared to the same period in 2014.

The group recorded excellent momentum in Europe and the US. The fashion and leather goods business group grew 13 per cent overall while organic growth was 1 per cent. The statement said Louis Vuitton displayed strong creative momentum with growth in its legendary lines and the unveiling of many new products at its most recent shows that boosted the first quarter’s revenue.

The watches and jewellery business group recorded organic revenue growth of 7 per cent and an overall growth of 19 per cent in the first quarter of 2015. LVMH watch brands introduced several innovations at the Basel watch fair, during which a partnership among TAG Heuer, Google and Intel to launch a smartwatch was announced.

LVMH said it will continue to focus its efforts on developing its brands and will maintain a strict control over costs and will target its investments on the quality, the excellence and the innovation of its products and their distribution. (SH)

Fibre2fashion News Desk - India

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