LVMH Moët Hennessy Louis Vuitton reported a revenue €38.4 billion for the first nine months of 2019 (9M 2019) as compared to €33.1 billion earned in 9M 2018. This represents an increase of 16% y-o-y. Organic revenue grew 11% compared to the same period of 2018.

The Company said that third quarter revenue was up by 17% compared to the same period in 2018. Organic revenue growth for this period was 11%. This, LVMH noted, was a performance “in line with the trend recorded in the first half of the year”.

“The United States and Europe saw good progress in the third quarter, as did Asia, despite the difficult context in Hong Kong,” the Company noted.

In 9M 2019, the Watches & Jewelry business group recorded a revenue of €3.26 billion as against a revenue of €3.02 billion garnered in the same period of the previous year. This marked an increase of 8% in reported terms and a 4% organic growth; and was driven by jewellery, LVMH stressed.

“Bvlgari enjoyed an excellent performance, especially in its own stores,” LVMH said, with the jeweller’s iconic lines as well as its new Serpenti Seduttori watch collection contributing to this performance.

Talking about the achievements of this division LVMH added: “After Beijing in 2017 and Tokyo in 2018, this summer, Chaumet presented its new exhibition in Monaco; "Chaumet in Majesty. Jewels of Sovereigns since 1780". In watches, TAG Heuer continued to focus on its iconic lines. Hublot made solid progress, continuing to enrich its lines with new models from several collaborations.”

Meanwhile, its other businesses also reported steady increases with the fashion and leather goods business – the largest in the LVMH basket – registering a revenue of €15.87 billion as compared to a revenue of €13.02 billion recorded for the same period of the previous year.    This segment of LVMH’s portfolio grew 22% in reported terms and registered an 18% organic growth.

“In a growth environment since the beginning of the year, albeit marked by an uncertain geopolitical context, LVMH will continue to be vigilant,” the Company stated dwelling on its outlook for the coming months. “The Group will pursue its strategy focused on innovation and targeted geographic expansion in the most promising markets.”  

Pic Cap: Bvlgari’s redesigned New York store

Pic Courtesy: LVMH Moët Hennessy Louis Vuitton