The parent company of luxury fashion retailers Louis Vuitton, Dior and Marc Jacobs has recorded a 15 per cent increase in revenue in the quarter, thanks to positive growth in Asia, Europe and the US.
The LVMH Moet Hennessy Louis Vuitton group – which also owns Givenchy, Fendi, Tag Heuer, Bulgari and various upmarket alcohol brands – raked in â‚¬9.9 billion (£8.4 billion) during its first fiscal quarter of 2017, which also represented an organic revenue growth was 13 per cent compared to the same period of 2016.
LVMH said it reaped the rewards of a favourable comparison base, particularly in Europe, where activity was affected last year by the impact of the November 2015 attacks in Paris and the weakened pound after the Brexit referendum in June 2016.
LVMH‘s fashion and leather goods segment grew 15 per cent, the perfumes and cosmetics segment had an organic revenue growth of 12 per cent, while its watches and jewelry arm had organic revenue growth of 11 per cent in the first quarter.
Also in the same period, Givenchy welcomed a new artistic director and Marc Jacobs continued its restructuring.