Louis Vuitton owner sees revenues jump 16% in first quarter
LVMH, which owns luxury fashion retailer Louis Vuitton, has reported a 16% increase in revenues to €12.5bn (£10.8bn) for the first quarter of 2019.
Like-for-like sales increased by 11% compared with the same period in 2018, and shares in the group also jumped by 3.3% to €340.50 in early trading yesterday (11 April).
Its fashion and leather goods business group also achieved organic revenue growth of 15% to €5.1bn (£4.4bn). LVMH said this was due Louis Vuitton’s “exceptional” performance, which saw “remarkable growth” across all of its businesses.
A statement by the group read: “In the buoyant environment of the beginning of this year, albeit marked by geopolitical uncertainties, LVMH will continue to focus its efforts on developing its brands, maintaining strict control over costs and targeting its investments on the quality, excellence and innovation of its products and their distribution.
“The group will rely on the talent and motivation of its teams, the diversification of its businesses and the geographical balance of its revenue to reinforce, once again in 2019, its global leadership position in luxury goods.”
