INTERNATIONAL. LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, today announced a +4% increase in revenue to €26.3 billion for the first nine months of 2016.
Organic revenue grew +5% compared to the same period in 2015.
The Selective Retailing business group, to which DFS Group belongs, recorded organic revenue growth of +6% for the period.
LVMH does not break out the DFS performance from those of the division (which also includes Starboard Cruise Services and domestic perfumery chain Sephora as well as Franck et Fils, La Grande Epicerie de Paris and Le Bon Marché Rive Gauche). The group sounded a cautious note, saying: “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.”
Perfumery chain Sephora’s performance boosted the division’s results. LVMH said: “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 programme.”.
Groupwide, the third quarter saw an acceleration compared to the first half of the year with organic revenue growth of +6%. Asia, excluding Japan, showed a “significant improvement” during the quarter, LVMH noted. “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,” it continued.
Full group results to follow.
