European multinational luxury goods conglomerate LVMH has recorded an increase of 15 per cent in its sales in the first quarter of the year. During the review period, sales rose to 9.88 billion Euros (8.44 billion Pounds).
The fashion retailer enjoyed a favourable comparison in the first quarter, particularly in Europe, where activity was affected last year by the impact of the November 2015 attacks in Paris. The current trend cannot reasonably be expected to be extrapolated to the full year.
Louis Vuitton achieved a good start to the year, driven by a creative dynamic in all its businesses. On a like-for-like or organic basis, sales increased by 13 per cent. The Fashion & Leather Goods business group achieved organic growth of 15% in the first quarter of 2017.
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The fashion house will continue to make its efforts on developing its brands, maintain strict control over costs and target 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, diversification of its businesses and good geographical balance of its revenue to reinforce, once again in 2017, its global leadership position in luxury goods, it said in release issued.
Currently, LVMH employs over 83,000 people and operates about 2,400 stores worldwide.
