LVMH has released its results for the first half of the current financial year. The luxury products group recorded revenue of €19.7 billion, up 15 percent on the same period last year, with organic revenue growth increasing 12 percent. Profit soared 23 percent to €3.64 billion, and operating margin grew 1 percent to reach 18.5 percent.
The Perfumes & Cosmetics division’s revenue grew 14 percent (reported) to reach €2.67 billion, thanks to strong momentum from Christian Dior’s iconic fragrances and new make-up collections, and the launch of new fragrance Mon Guerlain under the Guerlain banner. Parfums Givenchy experienced ‘rapid growth’ in make-up.
Meanwhile, the Selective Retail unit delivered a 15 percent rise in revenue, totalling €6.28 billion with Sephora reinforcing its omni-channel strategy and extending its store network.
“LVMH has enjoyed an excellent first half, to which all our businesses contributed,” said Bernard Arnault, LVMH Chairman and CEO. “In the current climate of geopolitical and economic instability, creativity and quality, the founding values of our Group, have more than ever become benchmarks for all. The increasing digitalization of our activities furthermore reinforces the quality of the experience we bring to our customers. In an environment that remains uncertain, we approach the second half of the year with caution. We will remain vigilant and rely on the entrepreneurial spirit and talent of our teams to further increase our leadership in the world of high-quality products in 2017.”