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Led by its Fashion and Leather Goods and Perfumes & Cosmetics businesses, LVMH’s organic revenues increased by 12% in the first nine months of 2017. According to the company’s earnings release:
The Fashion & Leather Goods business group recorded organic revenue growth of 14% for the first nine months of 2017. Louis Vuitton is still driven by its exceptional strength in the field of innovation, illustrated by its first smart watch and the many creations across all of its activities. The qualitative development of its distribution network continues, as illustrated by the opening of the Maison Louis Vuitton Vendôme in Paris, which brings together under one roof all the savoir-faire of the Maison. Christian Dior Couture, whose business is consolidated for the first time in the third quarter, achieved an excellent performance. A retrospective at the Museum of Decorative Arts in Paris, which has had tremendous success, celebrates the 70th anniversary of the Maison. Fendi is stepping up its development in the United States with the opening of several new stores. Loro Piana, Céline and Loewe are making good progress. Rimowa has been consolidated since January 2017 while Donna Karan was sold at the end of 2016.
The Perfumes & Cosmetics business group recorded organic revenue growth of 14% for the first nine months of 2017. Parfums Christian Dior continued its strong performance. Perfumes benefited from the continued success of J’adore, Sauvage, and from the launch of the eau de parfum Miss Dior. In makeup, the range of Rouge Dior lipstick grew rapidly. Guerlain rolled out its new Mon Guerlain fragrance internationally. Parfums Givenchy continued its strong expansion, driven by makeup. Fenty Beauty by Rihanna, distributed exclusively at Sephora, experienced an exceptional start.
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Dick Young
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