LVMH sees revenue soar 16 percent over Q1 2019

LVMH sees revenue soar 16 percent over Q1 2019

LVMH has reported revenue of €12.5 billion for the first quarter of the current financial year, an increase of 16 percent on the same period a year ago (11 percent in organic growth terms).

The luxury goods behemoth revealed that all geographic regions are experiencing good growth, with selective retailing (which includes perfumery chain Sephora) growing 13 percent and the perfumes and cosmetics business unit swelling 12 percent. Parfums Christian Dior in particular has a ‘very good’ quarter, LVMH said, thanks to recent launch Joy and Fenty Beauty continued its rapid growth while Sephora gained market share and recorded strong revenue growth.

The group’s success appears to dispel rumors that the luxury boom is nearing its end, said Bloomberg, but such a supposition could be overly optimistic; not all luxury brands enjoy the same success and not all LVMH units beat analyst expectations, the report added.

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