// LVMH total quarterly sales grow 32% to £12bn
// Organic revenue growth at the group was 30%
// Selective retailing, including the department store Le Bon Marche & Sephora dropped 11%
Luxury retail conglomerate LVMH has returned to growth for the first time in almost a year.
The parent company of Louis Vuitton and a host of other luxury retailers saw first quarter sales in its fashion and leather goods division rise by 45 per cent, compared to the same period in 2020.
The figure marks a 32 per cent jump year-on-year after the Covid-19 pandemic lead to significant disruptions.
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Sales in LVMH’s fashion and leather goods division were £5.8bn in the three months to 31 March, a 45 per cent rise, and represent organic growth of 52 per cent against the first quarter in 2020.
The firm did not disclose revenue by brand but said “Louis Vuitton, driven by its strong creativity, enjoyed a remarkable performance”, while “Christian Dior enjoyed an excellent start to the year”.
LVMH also saw a 35 per cent jump in sales of its watches and jewellery products compared to the same period last year.
This comes after the firm completed its takeover of US jewellery house Tiffany & Co in January.
However, “selective” retailing – which includes Le Bon Marche and the beauty retail chain Sephora – dropped 11 per cent with LVMH noting the department was affected by disruptions to international travel.