×
477
Fashion Jobs
OPPO
Area Sales Manager _Asm up East
Permanent · Jhansi
OPPO
Area Sales Manager _Asm up East
Permanent · Jhansi
INDIA SHELTER FINANCE CORPORATION LIMITED
Area Branch Manager
Permanent · Chennai
JOB INDIA
Area Sales Manager- Operations (Garment Retails)
Permanent · Gurugram
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Merchandising Manager/Quality Manager - Garments Manufacturing Company
Permanent · Bhiwandi
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Officer Hrbp / Business HR For Garment/Textile/Apparel Industry
Permanent · Bengaluru
AAVAS FINANCIERS LIMITED
Area Sales Manager | Home Loan | Mumbai
Permanent · Bengaluru
BHARTI AIRTEL LIMITED
Territory Manager- Dth Sales - Rajahmundry
Permanent · Rajahmundry
ZYDUS WELLNESS
Zydus Wellness - Factory Manager - Sikkim Plant
Permanent · Atlanta
ANUSHÉ PIRANI
Social Media & Fashion Communications
Permanent · MUMBAI
HARSH CLEAN DHAN PVT. LTD
Area Sales Manager (Modern Trade Sales) For North East
Permanent · Guwahati
RANDSTAD INDIA PVT LTD
Area Sales Manager (Consumer Durable Industry)
Permanent · Mumbai
AVRO INDIA LIMITED
Area Sales Manager- Ludhiana, Amritsar/ mP-Indore, Bhopal
Permanent · Ludhiana
AVRO INDIA LIMITED
Area Sales Manager- Ludhiana, Amritsar/ mP-Indore, Bhopal
Permanent · Ludhiana
SOSYO HAJOORI BEVERAGES PRIVATE LIMITED
Area Sales Manager
Permanent · Mumbai
VIKRAM TEA PROCESSOR PVT LTD
Area Sales Manager
Permanent · Ahmedabad
HERITAGE FOODS INDIA
Area Sales Manager(Hyderabad & Vijayawada) @ Hfl
Permanent · Hyderabad
NASH INDUSTRIES (I) PVT. LTD.
Production Manager Position With Nash Industries-Pune
Permanent · Pune
ACCELERATE SOCIAL WELFARE FOUNDATION
Area Sales Manager
Permanent · Noida
VR INDUSTRIES PVT. LTD
Area Sales Manager
Permanent · Chennai
G.R. BATHLA & SONS
Marketing Executive/Area Sales Manager
Permanent · Ludhiana
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Cutting Manager/Production Head - Garments Industry
Permanent · Bhiwandi
By
Reuters
Published
Apr 11, 2016
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

LVMH Q1 sales miss forecasts, says France remains weak

By
Reuters
Published
Apr 11, 2016

Luxury goods industry leader LVMH on Monday posted first-quarter sales below forecasts as tourist shopping in key markets such as France and Hong Kong remained low.


American actress Michelle Williams for Louis Vuitton - Louis Vuitton


Comparable sales growth at the group's fashion and leather division, which includes the Dior and Louis Vuitton brands and generates the most revenue, was flat during the period, falling short of market expectations of 2-3 percent growth.

The unit had seen sales rise by around 3 percent in the previous two quarters.
"The US market is strong and Europe remains well oriented except for France which is affected by a fall in tourism," LVMH said in a statement. "Asian markets are varied but Japan continues to progress."

LVMH, which owns more than 60 luxury brands including Hennessy cognac and Guerlain perfume, generated first-quarter sales of 8.62 billion euros ($9.83 billion), below Thomson Reuters' mean forecast of 8.72 billion euros.

"Overall, this is not very surprising, as LVMH and LVMH fashion and leather goods are so big that they can be seen as a proxy of the luxury goods sector - and the luxury goods sector is on the back foot," said Exane BNP Paribas analyst Luca Solca.

Last week, consultancy Bain & Co forecast the luxury market would reach a low point this year, due to lower levels of tourists travelling to Europe, spooked by militant attacks, depressed trading in Hong Kong, weaker demand in China and a relatively subdued U.S. market.

On Friday, Italian luxury goods maker Prada reported a 27 percent fall in quarterly profit, hit by lacklustre sales in China which have waned alongside slowing economic growth and a crackdown on conspicuous spending.

One bright spot, however, was LVMH's watches and jewellery division, which has been through difficult times due to weak demand in China.

Its like-for-like sales grew 7 percent, against 3 percent the previous quarter, helped by the success of Tag Heuer's repositioning and connected watch as well as solid demand for Bulgari jewellery.

$1 = 0.8765 euros

© Thomson Reuters 2021 All rights reserved.