LVMH: 8% Increase in Revenue for the First Nine Months of 2013
LVMH: 8% Increase in Revenue for the First Nine Months of 2013
PARIS--(BUSINESS WIRE)-- LVMH Moët Hennessy Louis Vuitton, the world's leading luxury products group, recorded revenue of €20.7 billion for the first nine months of 2013, an increase of 4% over the comparable period in 2012. Organic revenue grew by 8%.
The Group also recorded an 8% rise in organic revenue for the third quarter. The Wines & Spirits and Watches & Jewelry business groups both accelerated their respective growth rates when compared to the first half of 2013. The performance of the other business groups was comparable to the start of the year. Europe has shown good resilience and the US and Asia continue to record strong growth.
Revenue by business group:
|In million euros|
first 9 months
|Wines & Spirits||2 840||2 765||+ 3 %||+ 7 %|
|Fashion & Leather Goods||7 139||7 179||- 1 %||+ 4 %|
|Perfumes & Cosmetics||2 683||2 625||+ 2 %||+ 5 %|
|Watches & Jewelry||1 987||2 033||- 2 %||+ 3 %|
|Selective Retailing||6 316||5 452||+ 16 %||+ 19 %|
|Other activities & eliminations||(250)||(188)||ns||ns|
|Total||20 715||19 866||+ 4 %||+ 8 %|
* with comparable structure and constant exchange rates.
The Wines & Spirits business group recorded organic revenue growth of 7% for the first nine months of 2013. Champagne experienced a rebound in the third quarter, driven by strong demand in the Asian and American markets, and its prestige brands made strong progress over the period. Hennessy cognac continued its good progress with solid volume increases combined with its firm pricing policy.
The Fashion & Leather Goods business group recorded organic revenue growth of 4% for the first nine months of the year. Louis Vuitton continues to implement its strategy of very high product quality and distribution excellence. The latest creations in leather goods have been very successful. Fendi continued to focus on fur and leather goods and its third quarter was marked by the opening of stores in Paris and Milan. Céline showed excellent momentum, supported by its leather goods and shoe lines. Other brands continued their development.
The Perfumes & Cosmetics business group registered organic revenue growth of 5% for the first nine months of 2013. Parfums Christian Dior continued its growth, fuelled by the performance of its iconic products and its innovations. The continued success of J'Adore and Dior Homme and the development of Rouge Dior makeup were among the highlights of the last quarter. At Guerlain, a new campaign was devoted to the iconic fragrance Shalimar while La Petite Robe Noire celebrated its first anniversary. Fresh, Benefit and Make Up For Ever continued to record good growth, particularly in Asia where the brands are expanding their distribution.
The Watches & Jewelry business group recorded organic revenue growth of 3% for the first nine months of 2013. The performance of LVMH in both watches and jewelry remains excellent in its own stores. Among other initiatives in the third quarter, Bulgari successfully launched the new high jewelry line Diva and TAG Heuer's new movement manufacturing facility started its operations. All brands continued to expand their store networks around the world, helping to strengthen the quality of distribution.
The Selective Retailing business group achieved organic revenue growth of 19% for the first nine months of 2013. DFS sales are growing strongly, driven by the excellent performance of its Gallerias in Macao and Hong Kong and the integration for the first time this year of the activities of its three new Hong Kong airport concessions. Sephora continues to gain market share in key regions. Same-store sales growth was particularly strong in the United States and Asia. The expansion of the distribution network continues with several openings in the last quarter. Online sales are also experiencing rapid growth in all regions.
Despite the uncertain economic environment in Europe, LVMH remains confident for 2013. The Group will continue its proactive strategy centered 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, in 2013, its global leadership in the luxury market.
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 is available on our internet sitewww.lvmh.com
LVMH - Revenue by business group and by quarter
9 months 2013
|First Quarter||979||2 383||932||624||2 122||(93)||6 947|
|Second Quarter||829||2 328||872||686||2 093||(60)||6 748|
|Third Quarter||1 032||2 428||879||677||2 101||(97)||7 020|
|Total revenue||2 840||7 139||2 683||1 987||6 316||(250)||20 715|
9 months 2012
|First Quarter||926||2 374||899||630||1 823||(70)||6 582|
|Second Quarter||833||2 282||828||713||1 767||(39)||6 384|
|Third Quarter||1 006||2 523||898||690||1 862||(79)||6 900|
|Total revenue||2 765||7 179||2 625||2 033||5 452||(188)||19 866|
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, Hennessy, Glenmorangie, Ardbeg, Wen Jun, Belvedere, 10 Cane, 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 and Nicholas Kirkwood. 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 Bulgari, 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."
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KEYWORDS: United Kingdom United States Europe North America France New York Italy
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