LVMH Moët Hennessy Louis Vuitton has announced that sales of fashion and leather goods, cosmetics, and fragrance have increased by 14% for the third fiscal quarter 2017.
According to an article on The Fashion Law, LVMH has announced that sales of fashion and leather goods, cosmetics, and fragrance have increased by 14% for Q3 and beat analysts estimates.
Revenue increased by 14% to €30.1 billion ($35.35 billion). Sales of fashion and leather goods increased by 14%. Sales of cosmetics and fragrance also increased by 14%. Fashion and leather goods is the most profitable part of the company with Louis Vuitton being the most valuable.
As for cosmetics and fragrance, Sephora is the most valuable company, though, Dior and Givenchy are pretty profitable brands as well.
LVMH released a statement saying,
“Louis Vuitton is still driven by its exceptional strength in the field of innovation, illustrated by its first smart watch and the many creations across all of its activities. The qualitative development of its distribution network continues, as illustrated by the opening of the Maison Louis Vuitton Vendôme in Paris, which brings together under one roof all the savoir-faire of the Maison. Christian Dior Couture, whose business is consolidated for the first time in the third quarter, achieved an excellent performance.”
The company continued to say,
“a retrospective at the Museum of Decorative Arts in Paris, which has had tremendous success, celebrates the 70th anniversary of the Maison. Fendi is stepping up its development in the United States with the opening of several new stores. Loro Piana, Céline and Loewe are making good progress. Rimowa has been consolidated since January 2017, while Donna Karan was sold at the end of 2016.”
As for cosmetics and fragrance, LVMH released a statement saying,
“Parfums Christian Dior continued its strong performance. Perfumes benefited from the continued success of J’adore, Sauvage, and from the launch of the eau de parfum Miss Dior. In makeup, the range of Rouge Dior lipstick grew rapidly. Guerlain rolled out its new Mon Guerlain fragrance internationally. Parfums Givenchy continued its strong expansion, driven by makeup.”
LVMH also talked about how Sephora made sales of cosmetics and fragrance increase saying, “Fenty Beauty by Rihanna, [which is] distributed exclusively at [LVMH-owned cosmetics chain] Sephora, experienced an exceptional start.”
Although sales and profits have increased at LVMH, the company says it,
“will continue to be vigilant. The Group will pursue its strategy focused on innovation and targeted geographic expansion in the most promising markets. LVMH 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 2017.”
As for if sales and profits will continue to increase, we’ll just have to wait and see.
So, what do you think? Will sales and profits increase at LVMH? Let me know in the comments below. Also, don’t forget to subscribe to get new posts sent directly to your inbox and follow me on Facebook, Instagram, and Snapchat.
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