LVMH reports excellent 1H results

Luxury products group LVMH Moët Hennessy Louis Vuitton, recorded revenue of 25.1 billion euros in the first half of 2019, up 15%. Organic sales growth was 12% compared to the same period in 2018.

The United States, Asia and Europe saw good growth with, in particular, a rebound in France in the second quarter.

Profit from recurring operations was € 5 295 million for the first half of 2019, an increase of 14%.

     LVMH’s Selective Retailing business group saw organic revenue growth of 8%, with profit from recurring operations up 17%. DFS performed very well in its first European location– the Venice Galleria. Although seeing a slowdown in demand in Hong Kong and Macao over the past few months, DFS’s performance in these markets was good in the first half, benefiting from the rise in international travelers, says the company.

Sephora, meanwhile, recorded strong revenue growth and gained market share in all of its locations. Already present in 34 countries, the brand continued to expand its store network while online sales advanced rapidly.

     Other Highlights of the first half of 2019 include: good start to the year for Wines and Spirits, +6% in organic revenue; “remarkable momentum” at Louis Vuitton and Christian Dior Couture. The Fashion & LeatherGoods group recorded organic revenue growth of 18%. Also LVMH’s perfumes and cosmetics flagship brands grew +9% in organic revenue; good progress in jewelry, in particular for Bvlgari, and the announcement of the agreement with Stella McCartney House, among other developments.