LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury
products group, recorded a 4% increase in revenue, reaching €26.3
billion, for the first nine months of 2016. Organic revenue grew 5%
compared to the same period in 2015.
With organic revenue growth of 6%, the third quarter saw an
acceleration compared to the first half of the year. Asia,
excluding Japan, showed a significant improvement during the
quarter. The United States remains well positioned, as does Europe,
with the exception of France which continues to feel the impact of
a decline in the number of tourists.
Revenue by business group:
In million euros
9 months 9 months
Change 2016 / 2015
2016 2015
First 9 months
Reported
Organic* Wines & Spirits 3 281 3 129
+ 5 % + 7 % Fashion & Leather Goods 8 991
8 872 + 1 % + 2 % Perfumes & Cosmetics
3 578 3 371 + 6 % + 8 % Watches &
Jewelry 2 486 2 404 + 3 % + 4 %
Selective Retailing 8 283 7 878 + 5 % +
6 % Other activities & eliminations (293) (366)
ns ns Total
26 326 25 288
+ 4 % + 5 %
* With comparable structure and constant exchange rates.
The Wines & Spirits business group recorded organic
revenue growth of 7% in the first nine months of 2016. Champagne
volumes grew 3% over the period, with a particularly strong
performance in prestige cuvées. Hennessy cognac saw its volumes
increase by 9%. The United States continued to enjoy strong growth
and China showed improved momentum during the period, following the
destocking of distributors in 2015. Other spirits, Glenmorangie and
Belvedere continued their development.
The Fashion & Leather Goods business group recorded
organic revenue growth of 2% for the first nine months of 2016 with
an acceleration in the third quarter. Louis Vuitton maintained
strong momentum and ventured into a new territory with the launch
of the Louis Vuitton perfumes. The seven fragrances, created by
Master Perfumer Jacques Cavallier Belletrud, have made a very
promising start. The new Horizon luggage, conceived by Marc Newson,
was also among the major innovations of the last quarter. Fendi
generated significant revenue growth. Loro Piana inaugurated a
flagship store in Paris on Avenue Montaigne. Céline, Loewe and
Kenzo experienced good growth. Marc Jacobs continued the
repositioning of its collections. An agreement was announced for
the sale of the Donna Karan business. LVMH announced the
acquisition of a majority stake in the German Maison, Rimowa,
global leader in high quality luggage. The transaction, subject to
the approval of the competition authorities, is due to be completed
in January 2017.
The Perfumes & Cosmetics business group recorded
organic revenue growth of 8% for the first nine months of 2016,
outperforming the market. Parfums Christian Dior continued its
strong performance, gaining market share in all countries. The
continued momentum of its iconic fragrances, the great success of
Sauvage and its latest innovations in the makeup segment were the
main drivers of the growth of the brand. Guerlain successfully
expanded its perfume brand, La Petite Robe Noire, into the world of
makeup, a segment in which Givenchy saw strong growth. Supported by
a bold marketing campaign, the launch of the new perfume Kenzo
World, was a success. Benefit, Make Up For Ever, Fresh and Kat Von
D all delivered excellent performance.
The Watches & Jewelry business group recorded organic
revenue growth of 4% for the first nine months of 2016. Bvlgari
continued to gain market share and showed major creative momentum
by enriching its iconic product lines, notably with the recent
launch of Serpenti Seduttori. TAG Heuer made great progress in a
difficult market, benefiting particularly from the success of its
new collections and its smartwatch. Hublot continued the
development of its iconic lines, Classic Fusion and Big Bang.
Chaumet furthered its progress, driven by the success of its
Joséphine and Lien collections.
The Selective Retailing business group recorded organic
revenue growth of 6% for the first nine months of 2016. Sephora
continued to gain market share in all its markets and recorded
double-digit revenue growth. Online sales rapidly increased in all
regions and Sephora continued its store opening program. DFS
navigated a difficult tourist environment in Asia, particularly in
Macao and Hong Kong. After Cambodia in the first half, DFS opened
in September a new T Galleria in Europe, in Venice, thus expanding
its presence in major tourist destinations.
Outlook
In an uncertain geopolitical and currency environment, LVMH will
continue its strategy focused on innovation and targeted geographic
expansion in the most promising markets. LVMH will rely on the
power of its brands and the talent of its teams to further extend
its global leadership in the luxury market in 2016.
During the quarter and to-date, no events or changes have
occurred which could significantly modify the Group’s financial
structure.
Regulated information related to this press release and
presentation is available on our internet site www.lvmh.com
ANNEX
LVMH – Revenue by business group and by quarter
2016 Revenue (Euro millions)
FY 2016
Wines &
Spirits
Fashion &
Leather Goods
Perfumes &
Cosmetics
Watches &
Jewelry
Selective
Retailing
Other activities
& eliminations
Total First Quarter 1 033
2 965 1 213 774 2
747 (112)
8 620 Second Quarter
1 023 2 920 1 124
835 2 733 (67)
8 568 Total First Half 2 056
5 885 2 337
1 609 5 480 (179)
17 188 Third Quarter 1 225
3 106 1 241 877
2 803 (114) 9 138
Nine
months 3 281 8 991
3 578 2 486
8 283 (293) 26 326
2016 Revenue (Organic growth versus same period of
2015)
FY 2016
Wines &
Spirits
Fashion &
Leather Goods
Perfumes &
Cosmetics
Watches &
Jewelry
Selective
Retailing
Other activities
& eliminations
Total First Quarter +6%
0% +9% +7% +4%
-
+3% Second Quarter
+13% +1% +6% +2%
+7% -
+4% Total
First Half +9% 0%
+8% +4%
+5% - +4% Third
Quarter + 4% +5% +10%
+2% +8% -
+6%
Nine months +7%
+2% +8% +4%
+6% - +5%
2015 Revenue (Euro millions)
FY 2015
Wines &
Spirits
Fashion &
Leather Goods
Perfumes &
Cosmetics*
Watches &
Jewelry
Selective
Retailing*
Other activities
& eliminations
Total First Quarter 992
2 975 1 129 723 2
648 (144)
8 323 Second Quarter
938 2 958 1 099
829 2 627 (67)
8 384 Total First Half 1 930
5 933 2 228
1 552 5 275 (211)
16 707 Third Quarter 1 199
2 939 1 143 852
2 603 (155) 8 581
Nine
months 3 129 8 872
3 371 2 404
7 878 (366) 25 288
* reclassification of the cosmetics business Kendo from
Selective Retailing to Perfumes & Cosmetics.
LVMH
LVMH Moët Hennessy Louis Vuitton is represented in Wines and
Spirits by a portfolio of brands that includes Moët & Chandon,
Dom Pérignon, Veuve Clicquot Ponsardin, Krug, Ruinart, Mercier,
Château d’Yquem, Domaine du Clos des Lambrays, Château Cheval
Blanc, Hennessy, Glenmorangie, Ardbeg, Wenjun, Belvedere, Chandon,
Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Cape Mentelle,
Newton, Bodega Numanthia and Ao Yun-Shangri-La. Its Fashion and
Leather Goods division includes Louis Vuitton, Céline, Loewe,
Kenzo, Givenchy, Thomas Pink, Fendi, Emilio Pucci, Donna Karan,
Marc Jacobs, Berluti, Nicholas Kirkwood and Loro Piana. LVMH is
present in the Perfumes and Cosmetics sector with Parfums Christian
Dior, Guerlain, Parfums Givenchy, Parfums Kenzo, Perfumes Loewe as
well as other promising cosmetic companies (BeneFit Cosmetics, Make
Up For Ever, Acqua di Parma and Fresh). LVMH is also active in
selective retailing as well as in other activities through DFS,
Sephora, Le Bon Marché, La Samaritaine, Royal Van Lent and Cheval
Blanc hotels. LVMH's Watches and Jewelry division comprises
Bulgari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred, Hublot and
De Beers Diamond Jewellers Ltd, a joint venture created with the
world’s leading diamond group.
"Certain information included in this release is forward looking
and is subject to important risks and uncertainties and factors
beyond our control or ability to predict, that could cause actual
results to differ materially from those anticipated, projected or
implied. It only reflects our views as of the date of this
presentation. No undue reliance should therefore be based on any
such information, it being also agreed that we undertake no
commitment to amend or update it after the date hereof.”
/4
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version on businesswire.com: http://www.businesswire.com/news/home/20161010005936/en/
Analysts and investors:LVMHChris Hollis+ 33
1.4413.2122orMedia:France :DGM ConseilMichel
Calzaroni/Olivier Labesse/Sonia Fellmann/Hugues Schmitt+ 33
1.4070.1189orUK:Montfort CommunicationsHugh Morrison /
Charlotte McMullen+44 7921.881.800orItaly:SEC and
PartnersMichele Calcaterra/ Matteo Steinbach+39 02
6249991orUS:Kekst & CompanyJames Fingeroth/Molly
Morse/Anntal Silver+1 212.521.4800
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