LVMH Moët Hennessy Louis Vuitton, one of the world’s leading luxury products group, recorded a 10% increase in revenue, reaching €33.1 billion in the first nine months of 2018.
Organic revenue grew by 11% against the same period the previous year, and grew 13% excluding the impact of the airport concession closures in Hong Kong at the end of 2017.
The group reported that all geographical areas progressed well.
Wine & Spirits
The Wines & Spirits business group recorded organic revenue growth of 7% in the first nine months of the year.
Champagne volumes were stable over the period, while the prestige vintages performed particularly well while continuing a price increase policy. Hennessy cognac volumes increased by 4%.
Looking ahead LVMH said that the group will ‘continue to be vigilant’ through an ‘uncertain geopolitical and monetary context’.
It added that it will focus its strategy on innovation as well as expanding into new and emerging markets.
The group said that it will rely on the power of its brands and its teams to further extend its global leadership in the luxury market in 2018.
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.