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LVMH Reports 15% Increase in Revenue For First Quarter of 2006
PARIS, Apr 20, 2006 / --- Reporting revenues of 3.6 billion euros for the first quarter of 2006, LVMH Moët Hennessy Louis Vuitton achieved a 15% growth compared to the same period last year, garnering an excellent start for the year.
A purveyor of luxury goods, LVMH also recorded progress in all business groups, continuing the trend observed in 2005.
The Christian Dior Group, a division of LVMH and reports its financial statement separately also reported a 15% revenue growth for the first quarter posting 3,317 million euros in revenue.
Over the first quarter, Christian Dior Couture continued to grow strongly with revenue up 13% to EUR 165 million with all geographic regions contributing to the performance.
The quarter benefited particularly from the launch of the new ‘Gaucho’ leather goods line which was very well received and for which further products and expressions will be introduced over the course of the second quarter.
The other divisions also did very well with Wines & Spirit and Watches & Jewelry both posting 23% increase in revenue.
Fashion & Leather Goods revenue grew 14 % over the quarter. Louis Vuitton continued to deliver double-digit organic revenue growth, recording exceptional progress in the US and in Asia with new leather good products, alongside the traditional lines, were very well received with several models quickly moving to waiting lists.
Fendi continued its rapid expansion and its leather goods revenue grew strongly over the period. The Spy range and the B.Fendi collections are two examples of the brand’s excellent potential and improvements in the distribution network continue.
In Perfumes and Cosmetics, Parfums Christian Dior increased its momentum around the world, notably due to the extraordinary success of the Capture Totale skincare range and its make-up lines.
In perfumes, existing products continue to grow well and contributed to the strong revenue growth. Guerlain benefited from the excellent launch of its new Orchidée Impériale skincare product and further progress with the KissKiss make-up range. Revenue of Parfums Givenchy was driven by ‘vintage’ expressions of its Organza, Amarige and Very Irresistible lines. BeneFit Cosmetics recorded another period of double-digit revenue growth.
In Selective Retailing, DFS continues to benefit from the rapid evolution of Chinese tourism. The Okinawa Galleria did well with its Japanese clientele. Sephora continued its strong momentum around the world, in particular in France where it continues to grow market share. In the US, Sephora once again achieved double-digit revenue growth on a same store basis.
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