PARIS (dpa-AFX) - LVMH Moet Hennessy Louis Vuitton (LVMHF.PK, LVMUY.PK) reported a 4% increase in revenue, reaching 26.3 billion euros, for the first nine months of 2016. Organic revenue grew 5% compared to the same period in 2015.
With organic revenue growth of 6%, the third quarter saw an acceleration compared to the first half of the year. Asia, excluding Japan, showed a significant improvement during the quarter. The United States remains well positioned, as does Europe, with the exception of France which continues to feel the impact of a decline in the number of tourists.
The Wines & Spirits business group reported organic revenue growth of 7% in the first nine months of 2016. Champagne volumes grew 3% over the period, with a particularly strong performance in prestige cuvées. Hennessy cognac saw its volumes increase by 9%.
The Fashion & Leather Goods business group recorded organic revenue growth of 2% for the first nine months of 2016 with an acceleration in the third quarter. Louis Vuitton maintained strong momentum and ventured into a new territory with the launch of the Louis Vuitton perfumes.
The Perfumes & Cosmetics business group recorded organic revenue growth of 8% for the first nine months of 2016, outperforming the market.
The Watches & Jewelry business group recorded organic revenue growth of 4% for the first nine months of 2016.
The Selective Retailing business group recorded organic revenue growth of 6% for the first nine months of 2016.
In an uncertain geopolitical and currency environment, LVMH will continue its strategy focused on innovation and targeted geographic expansion in the most promising markets. LVMH said it will rely on the power of its brands and the talent of its teams to further extend its global leadership in the luxury market in 2016.
Copyright RTT News/dpa-AFX