Sales of the world’s number one luxury brand have reached 18 billion euros since the beginning of the year.
The world’s number one luxury LVMH announced on Tuesday that it posted EUR 18 billion in sales in the first quarter, a jump of 29% compared to the same period last year, and is continuing its momentum after a record year of 2021.
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The group on 75”houses” – first of the CAC 40 to reveal its quarterly figures – estimates to reach “a good start to the year in an environment still disrupted by the health crisis and marked by the dramatic events in UkraineThe revenue is well above the consensus of Bloomberg and Factset, which forecast 16.4 billion euros and 17 billion euros respectively. The LVMH groupfollows with the greatest attention the development of the situation in Ukraine and in the region“, according to the press release. The luxury giant, which owns the brands Louis Vuitton, Dior, Céline and Moët & Chandon, among other things, announced that it would close at the beginning of March”.temporary» its 124 stores in Russia where it has 3,500 employees. †In the current geopolitical context and given the still turbulent health situation, LVMH remains both vigilant and confident at the start of the year.specifies the press release.
Double-digit sales growth
For this first trimesterWith the exception of Wines and Spirits, which still face supply constraints, all businesses delivered double-digit sales growththe group emphasizes. Fashion and leather goods, the flagship division, had sales of more than 9 billion in the first quarter, a growth of 35% compared to the first quarter of 2021. LVMH, which never details the sales of its brands, estimates that Louis vuitton”makes an excellent start to the year» and that Dior «continues a remarkable performance“. Fendi registers”solid progress“and Celine”very strong growth“. The Watches and Jewelry division achieved a turnover of 2.338 billion euros (+24%) and Tiffany achieved “a good start to the year†
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Knowing perfumes and cosmetics”excellent momentum driven by continued growth in perfume and makeup, particularly in the United Statesand achieve a turnover of EUR 1.9 billion (+23%) The Wines and Spirits activity of EUR 1.638 billion (+8%) is not improving as fast as the other categories of the group, althoughthe champagne business has had an excellent start to the year, with volumes up strongly, especially in Europe and Japan, and a determined policy of price increases“. In Selective Retailing, Sephora achieves”an excellent performance over the quarter with a strong rebound in the activity of its stores, whose network was partially closed at the beginning of 2021†
