Paris, April 11th 2016
LVMH Moët Hennessy Louis Vuitton, the world's leading high quality products group, recorded revenue of 8.6 billion Euros for the first quarter 2016, an increase of 4%. Organic* revenue growth was 3% compared to the same period in 2015.
Revenue by business group:
|In million euros||Q1 2016||Q1 2015|| % Change|
Q1 2016 / Q1 2015
|Wines & Spirits||1 033||992||+ 4 %||+ 6 %|
|Fashion & Leather Goods||2 965||2 975||0 %||0 %|
|Perfumes & Cosmetics||1 213||1 129||+ 7 %||+ 9 %|
|Watches & Jewelry||774||723||+ 7 %||+ 7 %|
|Selective Retailing||2 747||2 648||+ 4 %||+ 4 %|
|Other activities and eliminations||(112)||(144)||-||-|
|Total||8 620||8 323||+ 4 %||+ 3 %|
* with comparable structure and constant exchange rates.
The Wines & Spirits business group recorded organic revenue growth of 6% in the first quarter of 2016. Champagne experienced a strong start to the year especially in Europe where growth continued. Hennessy maintained its remarkable performance in the United States. In China, the first quarter showed better momentum after the impact of destocking by distributors in 2015. Other spirits, Glenmorangie and Belvedere, continued to grow.
The Watches & Jewelry business group recorded organic revenue growth of 7% in the first quarter of 2016 outperforming the market. Bvlgari recorded an excellent performance driven by the success of its iconic jewelry collections and innovations. TAG Heuer had a good quarter, benefiting from its successful strategy of focussing on its core offering. The new connected smartwatch was an immense success. A number of LVMH watch brand innovations were extremely well received at the Basel Watch fair.
In Selective Retailing, organic revenue growth was 4% in the first quarter of 2016. Sephora gained market share around the world. North America maintained its exceptional growth rate. DFS continues to be faced with an uncertain economic environment in Asia. The opening of the T Galleria in Siem Reap in Cambodia was a highlight of the quarter.
LVMH will continue to focus its efforts on developing its brands, will maintain a strict control over costs and will target its investments on the quality, the excellence and the innovation of its products and their distribution. The Group will rely on the talent and the motivation of its teams, the diversification of its businesses and the good geographical balance of its revenue to increase, once again in 2016, its global leadership position in luxury goods.
During the quarter and to date, no events or changes have occurred which could significantly modify the Group's financial structure.
Regulated information related to this press release and presentation available on our internet site www.lvmh.com
LVMH Moët Hennessy Louis Vuitton is represented in Wines and Spirits by a portfolio of brands that includes Moët & Chandon, Dom Pérignon, Veuve Clicquot Ponsardin, Krug, Ruinart, Mercier, Château d'Yquem, Domaine du Clos des Lambrays, Château Cheval Blanc, Hennessy, Glenmorangie, Ardbeg, Wen Jun, Belvedere, Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Cape Mentelle, Newton et Numanthia. Its Fashion and Leather Goods division includes Louis Vuitton, Céline, Loewe, Kenzo, Givenchy, Thomas Pink, Fendi, Emilio Pucci, Donna Karan, Marc Jacobs, Berluti, Nicholas Kirkwood and Loro Piana. LVMH is present in the Perfumes and Cosmetics sector with Parfums Christian Dior, Guerlain, Parfums Givenchy, Parfums Kenzo, Perfumes Loewe as well as other promising cosmetic companies (BeneFit Cosmetics, Make Up For Ever, Acqua di Parma and Fresh). LVMH is also active in selective retailing as well as in other activities through DFS, Sephora, Le Bon Marché, la Samaritaine and Royal Van Lent. LVMH's Watches and Jewelry division comprises Bvlgari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred, Hublot and De Beers Diamond Jewellers Ltd, a joint venture created with the world's leading diamond group.
"Certain information included in this release is forward looking and is subject to important risks and uncertainties and factors beyond our control or ability to predict, that could cause actual results to differ materially from those anticipated, projected or implied. It only reflects our views as of the date of this presentation. No undue reliance should therefore be based on any such information, it being also agreed that we undertake no commitment to amend or update it after the date hereof."
|Analysts and investors:|| Chris Hollis|
|+ 33 1.4413.2122|
|France :|| Michel Calzaroni/Olivier Labesse/|
Sonia Fellmann/Hugues Schmitt
|+ 33 1.4070.1189|
|UK:||Hugh Morrison / Hannah Glynn||+ 44.203.770 7903|
|Italy:||Michele Calcaterra/ Matteo Steinbach||+39 02 6249991|
|SEC and Partners|
|US:|| James Fingeroth/Molly Morse/|
|Kekst & Company|
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: LVMH via Globenewswire