The world largest luxury group,the French LVMH Group (LVMH) published today its first quarter revenues. According to the company info, the total revenue was 12,5 billion euros, with 16 % growth from the year earlier. The company share was up 0,75 % to 329, 75 euros in Paris Stock Exchange. The S&P global luxury index was up 0,48 % to 3341,95 points today.
Picture: Hublot´s and Ferrari´s co-operation in the BaselWorld 2019
One of the best increases was in the fashion & leather division, which showed a 20 % increase. According to LVMH, the luxury fashion brand Christian Dior performed exceptionally well during the period. In the wines division, the Hennessy cognat increased by 11 %. Perfumes showed an increase of 12 % and watches & jewellery 9 %. Selective retailing increased by 13 %.
-The innovative products presented by LVMH’s watch brands at the Baselworld Watch & Jewelry Fair were very well received, including Hublot’s Classic Fusion Ferrari GT watch, Bvlgari’s Serpenti Seduttoriand Octo Finissimo Chronograph GMT Automatic watches, TAG Heuer’s connected watch model for golfers, and Zenith’s new Defy Inventor and Defy El Primero 21 Carbon models, the group said in the press release.
The Group has also opened a new brand flagship store in New York, in the ultra modern and high-design area in the Hudson Yards Development in Manhattan. From the online sales, the group said “the online sales grew strongly”.
The Group is arranging a confcall for analysts on Thursday for more information.