LVMH On the Move! Q2 Revenue Rises 23%

Luxury goods company benefits from weak euro, rebound at Louis Vuitton brand.

Louis Vuitton S/S 2016. Haz clic para conocer la colección
Louis Vuitton S/S 2016. Click for more information

LVMH said revenue rose to €8.38 billion ($9.29 billion) in the quarter, while first-half net profit rose 15% from a year earlier to €2.96 billion. LVMH doesn’t publish quarterly profit figures. LVMH’s second-quarter results show that the company’s weak spots are on the mend. Organic revenue growth, which strips out the effects of the currency volatility, was 9%.

“We are confident with the remaining part of the year,” said Chief Financial Officer Jean-Jacques Guiony. “Most of our markets are showing good momentum.”

Louis Vuitton S/S 2015. Haz clic para comprar
Louis Vuitton S/S 2015. Click for more information

LVMH’s fashion business is growing again, led by a Louis Vuitton brand that has come back in vogue. Sales at its fashion and leather goods division, which makes up more than a third of total group revenue and includes Louis Vuitton, Fendi and Bulgari, rose 24% to €2.96 billion in the three-month period. The division’s organic revenue growth was 10%.

Mr. Guiony said sales of Louis Vuitton’s staple monogram handbags “have been very strong” though he didn’t break out figures for the label.

Louis Vuitton S/S 2015. Haz clic para comprar
Louis Vuitton S/S 2015. Click for more information

Meanwhile, sales at LVMH’s wine and spirits division rose 19% to €992 million. While cognac sales continued to struggle in China as a continuing crackdown on corruption and gift-giving has crimped sales there, demand for both cognac and Champagne was strong in the U.S., the company said.

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Louis Vuitton Store. Click for more information

Sales in Asia excluding Japan declined 5%, as Chinese tourists shunned the traditional shopping hub of Hong Kong, opting for other cities with less political volatility.

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