LVMH’s fashion & leather revenue stable in Q1 2016

Louis Vuitton Moet Hennessy (LVMH), a French conglomerate for luxury goods, reported revenue of €2.96 billion in the first quarter of 2016 as compared to €2.97 in the corresponding period last year, representing a stable growth in the quarter at its fashion and leather goods segment, according to a press statement issued by the company.

The segment maintained its growth momentum, especially in its leather goods line, which is shown by its innovations across all areas. Fendi enjoyed an excellent performance, driven by its leather and ready-to-wear lines.
Celine and Kenzo experienced a good start to the year. Donna Karan and Marc Jacobs continue to work on the evolution of their product lines.
The revenue was driven by a strong US market, a well-oriented European market (except France, which is affected by a fall in tourism) and varied Asian markets (Japan continues to progress).
The overall group revenue stood at €8.6 billion in the first quarter of 2016, which is an increase of 4 per cent as compared to €8.3 billion last year.
LVMH will continue to focus its efforts on developing its brands; will maintain a strict control over costs and will target its investments on quality, excellence and innovation of its products and their distribution.
The group will rely on the talent and the motivation of its teams, the diversification of its businesses and the good geographical balance of its revenue to increase its global leadership position in luxury goods.