LVMH, the French fashion retail stalwart, has something to cheer for – in almost a year!
The retailer has witnessed its Q1 sales in fashion and leather goods section shoot up by a whopping 45 per cent.
The impressive numbers mark a year-on-year surge of 32 per cent for LVMH after pandemic-hit 2020 had severely impacted the retailer’s performance.
In the quarter that ended 31 March 2021, LVMH saw its sales in fashion and leather goods touch £5.8 billion at an increase of 45 per cent. Notably, the organic growth was 52 per cent.
Though LVMH did not reveal any brand-wise revenue details, it, reportedly, said that LVMH brand performed remarkably – all owing to its strong creativity.
The retailer also said Christian Dior too had an excellent start to the year.
Talking of selective retailing that included Le Bon Marche and Sephora, LVMH said that selective retailing fell by 11 per cent mainly due to disruptions to international travel.
The French fashion retailer has its headquarters in Paris and controls around 60 subsidiaries that manage renowned fashion labels like Givenchy, Christian Dior, Kenzo, Celine and Fenty, amongst others.