In the first quarter, LVMH Moët Hennessy Louis Vuitton reported revenue of € 20.7 billion, a 2 per cent decrease from the previous year. Organic revenue growth was 3 per cent.
In a statement, LVMH said that despite an uncertain geopolitical and economic climate, the company had a strong start to the year. Japan saw double-digit revenue growth during the quarter, while Europe and the US saw growth on a constant currency and consolidation scope basis. The rest of Asia was affected by the significant increase in spending by Chinese consumers in Europe and Japan.
The business group responsible for fashion and leather items had a 2 per cent increase in organic revenue, reaching € 10.5 billion. The business continued by saying that growth was still quite robust in the Middle East, Europe, and North America. The network of stores kept growing, especially in North America. With international travel only partially recovering in Europe and at flagship locations Hong Kong and Macao, DFS’s commercial activity in 2019 remained below its pre-Covid level.
