Paris, April 10th 2019
LVMH Moët Hennessy Louis Vuitton, the world's leading high quality products group, recorded revenue of 12.5 billion Euros for the first quarter 2019, an increase of 16%. Organic growth* was 11% compared to the same period of 2018. The trends observed in 2018 continued throughout the first quarter. All geographic regions are experiencing good growth.
Revenue by business group:
|In million euros||Q1 2019||Q1 2018|| % Change|
Q1 2019 / Q1 2018
|Wines & Spirits||1 349||1 195||+ 13 %||+ 9 %|
|Fashion & Leather Goods||5 111||4 270||+ 20 %||+ 15 %|
|Perfumes & Cosmetics||1 687||1 500||+ 12 %||+ 9 %|
|Watches & Jewelry||1 046||959||+ 9 %||+ 4 %|
|Selective Retailing||3 510||3 104||+ 13 %||+ 8 %|
|Other activities and eliminations||(165)||(174)||-||-|
|Total LVMH||12 538||10 854||+ 16 %||+ 11 %|
The Wines & Spirits business group recorded organic growth of 9% in the first quarter of 2019. Champagne volumes were stable over the period. Prestige cuvées performed particularly well, notably in the United States and Japan. The business group also benefited from a firm pricing policy. Hennessy cognac volumes increased by 11%. The US and Chinese markets grew fast.
The Fashion & Leather Goods business group achieved organic revenue growth of 15% in the first quarter of 2019. Louis Vuitton continued its remarkable growth across all of its businesses. Its performance was exceptional, its creativity ever more striking and innovative, and its Men's and Women's Autumn-Winter fashion shows were universally acclaimed. The transformational upgrade of its distribution network continued with highly successful and iconic re-openings, including Florence, London's Sloane Street, Monaco and Shanghai IFC. In order to meet growing demand and to limit stock shortages, a new leather workshop was opened in France on a site that will be able to accommodate 500 employees, and several other projects are underway. Christian Dior Couture performed exceptionally well across all its product categories and regions. After Paris and Denver, a new exhibition, "Christian Dior, Designer of Dreams" opened in London at the Victoria and Albert Museum. At Celine, the new Men's and Women's ready-to-wear collections arrived in stores as the new concept starts to be rolled out. Fendi, Loewe and Berluti are growing fast. Loro Piana's vicuna and shoe collections performed well. The other Maisons continued to progress.
In Perfumes & Cosmetics, organic revenue increased 9% in the first quarter of 2019, mainly driven by the performance of its iconic brands. Parfums Christian Dior had a very good quarter, demonstrating the continued vitality of its iconic perfumes and benefiting from the recent launch of its new fragrance Joy. In makeup, the Rouge Dior and Diorskin lines enjoyed a remarkable performance. Guerlain experienced strong growth momentum, notably as a result of the sustained growth of Abeille Royale skincare and Rouge G lipstick. Parfums Givenchy performed very well, driven by its Le Rouge and Prisme Libre makeup ranges. Fenty Beauty by Rihanna continued to grow rapidly.
The Watches & Jewelry business group recorded organic revenue growth of 4% in the first quarter of 2019, driven by the performance of its jewelry. Bvlgari made strong progress in its own stores, driven by its iconic lines Serpenti, Divas'Dream, Lvcea and its new Fiorever collection. Chaumet unveiled its new Liens Evidence creations in gold and diamonds. A pop-up store opened in the Saint-Germain quarter in Paris while its historic store in Place Vendôme is under renovation. The innovative products presented by LVMH's watch brands at the Baselworld Watch & Jewelry Fair were very well received, including Hublot's Classic Fusion Ferrari GT watch, Bvlgari's Serpenti Seduttori and Octo Finissimo Chronograph GMT Automatic watches, TAG Heuer's connected watch model for golfers, and Zenith's new Defy Inventor and Defy El Primero 21 Carbon models.
In Selective Retailing, organic revenue rose 8% in the first quarter of 2019. Sephora recorded strong revenue growth and gained market share over the period, offering its customers an ever more innovative and interactive experience. A new flagship store opened in the new Hudson Yards development in New York. Online sales grew strongly. DFS grew at a steady pace over the period. The Gallerias of Hong Kong and Macao performed particularly well. Momentum remained very strong at the Fondaco dei Tedeschi in Venice, the first European site for DFS. Its expansion in Europe will continue in 2020 with an opening in La Samaritaine in Paris.
In the buoyant environment of the beginning of this year, albeit marked by geopolitical uncertainties, LVMH will continue to focus its efforts on developing its brands, maintaining strict control over costs and targeting its investments on the quality, excellence and innovation of its products and their distribution. The Group will rely on the talent and motivation of its teams, the diversification of its businesses and the geographical balance of its revenue to reinforce, once again in 2019, its global leadership position in luxury goods.
With the exception of the approval of LVMH's previously announced acquisition of Belmond at the Belmond Ltd. General Meeting, no events or changes have occurred, during the quarter and to date, which could significantly modify the Group's financial structure.
Regulated information related to this press release and presentation are 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, Colgin Cellars, Hennessy, Glenmorangie, Ardbeg, Belvedere, Woodinville, Volcán de Mi Tierra, Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Cape Mentelle, Newton, Bodega Numanthia and Ao Yun. Its Fashion and Leather Goods division includes Louis Vuitton, Christian Dior Couture, Celine, Loewe, Kenzo, Givenchy, Pink Shirtmaker, Fendi, Emilio Pucci, Marc Jacobs, Berluti, Nicholas Kirkwood, Loro Piana, RIMOWA and Jean Patou. LVMH is present in the Perfumes and Cosmetics sector with Parfums Christian Dior, Guerlain, Parfums Givenchy, Kenzo Parfums, Perfumes Loewe, Benefit Cosmetics, Make Up For Ever, Acqua di Parma, Fresh, Fenty Beauty by Rihanna and Maison Francis Kurkdjian. LVMH's Watches and Jewelry division comprises Bvlgari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred and Hublot. LVMH is also active in selective retailing as well as in other activities through DFS, Sephora, Le Bon Marché, La Samaritaine, Groupe Les Echos, Cova, Le Jardin d'Acclimatation, Royal Van Lent and Cheval Blanc hotels.
"This document may contain certain forward looking statements which are based on estimations and forecasts. By their nature, these forward looking statements are subject to important risks and uncertainties and factors beyond our control or ability to predict, in particular those described in LVMH's Reference Document which is available on the website (www.lvmh.com). These forward looking statements should not be considered as a guarantee of future performance, the actual results could differ materially from those expressed or implied by them. The forward looking statements only reflect LVMH's views as of the date of this document, and LVMH does not undertake to revise or update these forward looking statements. The forward looking statements should be used with caution and circumspection and in no event can LVMH and its Management be held responsible for any investment or other decision based upon such statements. The information in this document does not constitute an offer to sell or an invitation to buy shares in LVMH or an invitation or inducement to engage in any other investment activities."
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Source: LVMH via Globenewswire