LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury
products group, recorded a 14% increase in revenue, reaching €30.1
billion, for the first nine months of 2017. Organic revenue grew
12% compared to the same period in 2016.
With organic revenue growth of 12%, the third quarter continues
the trend recorded in the first part of the year. Revenue increased
by 14%, including a negative currency impact of 5% and a positive
structural impact of 7%, reflecting notably the integration of
Christian Dior Couture. All business groups recorded double-digit
organic growth, with the exception of Wines and Spirits, whose
progress was limited by supply constraints.
Revenue by business group:
In million euros
9 months 2017
9 months 2016
Change 2017 / 2016
First 9 months
Reported Organic*
Wines & Spirits 3 514
3 281 + 7 % + 8 % Fashion
& Leather Goods 10 838
8 991 + 21 % + 14
% Perfumes & Cosmetics 4 065
3 578 + 14 % + 14
% Watches & Jewelry 2 789
2 486 + 12 % + 13
% Selective Retailing 9 335
8 283 + 13 % + 12
% Other activities & eliminations (446)
(293) ns
ns Total
30 095
26 326 + 14 %
+ 12 %
* With comparable structure and constant exchange rates. The
exchange rate impact was -1% and the structural impact was +3%.
The Wines & Spirits business group recorded organic
revenue growth of 8% in the first nine months of 2017. Champagne
volumes were up 4%, with particularly strong demand in Europe and
Japan. Hennessy cognac has been performing well since the beginning
of the year. The volume increase was 9% for the first nine months
of 2017, despite a third quarter decline related to supply
constraints. Higher qualities progressed well.
The Fashion & Leather Goods business group recorded
organic revenue growth of 14% for the first nine months of 2017.
Louis Vuitton is still driven by its exceptional strength in the
field of innovation, illustrated by its first smart watch and the
many creations across all of its activities. The qualitative
development of its distribution network continues, as illustrated
by the opening of the Maison Louis Vuitton Vendôme in Paris, which
brings together under one roof all the savoir-faire of the Maison.
Christian Dior Couture, whose business is consolidated for the
first time in the third quarter, achieved an excellent performance.
A retrospective at the Museum of Decorative Arts in Paris, which
has had tremendous success, celebrates the 70th anniversary of the
Maison. Fendi is stepping up its development in the United States
with the opening of several new stores. Loro Piana, Céline and
Loewe are making good progress. Rimowa has been consolidated since
January 2017 while Donna Karan was sold at the end of 2016.
The Perfumes & Cosmetics business group recorded
organic revenue growth of 14% for the first nine months of 2017.
Parfums Christian Dior continued its strong performance. Perfumes
benefited from the continued success of J'adore, Sauvage, and from
the launch of the eau de parfum Miss Dior. In makeup, the range of
Rouge Dior lipstick grew rapidly. Guerlain rolled out its new Mon
Guerlain fragrance internationally. Parfums Givenchy continued its
strong expansion, driven by makeup. Fenty Beauty by Rihanna,
distributed exclusively at Sephora, experienced an exceptional
start.
The Watches & Jewelry business group recorded organic
revenue growth of 13% for the first nine months of 2017. Bvlgari
achieved a remarkable performance thanks in particular to the rapid
growth of its signature jewelry collections Serpenti, Diva and
B.Zero1. The launch of the new Festa high-end jewelry line was one
of the highlights of the last quarter. Chaumet and Fred also
contributed to the overall positive performance. In watches, TAG
Heuer and Hublot continue to grow. The new products launched at the
Basel trade show have had excellent results.
The Selective Retailing business group recorded organic
revenue growth of 12% for the first nine months of 2017. Sephora
continues to renovate its stores and expand its store network.
After France, Sephora launched its new store concept in Spain with
two new innovatively designed flagship stores, placing digital at
the heart of the customer experience. Online sales are growing at a
steady pace. DFS is experiencing sustained growth, particularly in
Hong Kong and Macao. The T Galleria stores in Cambodia and Venice
have developed well.
Outlook
In an uncertain geopolitical and currency environment, LVMH will
continue to be vigilant. The Group will pursue 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 2017.
Except for the acquisition of Christian Dior Couture in July
2017, details of which are set out on page 52 of the 2017 Interim
Financial Report, no material event or change took place during the
quarter or to-date that would significantly affect the Group's
financial structure.
Regulated information related to this press release and
presentation is available on www.lvmh.fr
ANNEX
LVMH – Revenue by business group and by quarter
2017 Revenue (Euro millions)
FY 2017
Wines &Spirits
Fashion &Leather Goods
Perfumes &Cosmetics
Watches &Jewelry
SelectiveRetailing
Other activities& eliminations
Total First Quarter
1 196 3 405 1 395
879 3 154
(145)
9 884 Second Quarter
1 098 *3 494
1 275 959 3
126 (122)
*9 830
Total First Half 2 294
6 899 2 670
1 838 6 280
(267) 19 714 Third
Quarter 1 220 3 939
1 395 951
3 055 (179)
10
381 Nine months 3 514
10 838 4 065
2 789 9 335
(446) 30
095
* Includes all Rimowa revenue for the
first half of 2017.
2017 Revenue (Organic growth versus
same period of 2016)
FY 2017
Wines &Spirits
Fashion &Leather Goods
Perfumes &Cosmetics
Watches &Jewelry
SelectiveRetailing
Other activities& eliminations
Total First Quarter
+13% +15% +12%
+11% +11%
-
+13% Second Quarter
+6% +13%
+13% +14% +12%
-
+12% Total First
Half +10%
+14% +12%
+13% +12%
- +12% Third Quarter
+4% +13%
+17% +14% +14%
-
+12% Nine months
+8% +14%
+14% +13%
+12% -
+12%
2016 Revenue (Euro millions)
FY 2016
Wines &Spirits
Fashion &Leather Goods
Perfumes &Cosmetics
Watches &Jewelry
SelectiveRetailing
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
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, Belvedere, Woodinville,
Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Cape
Mentelle, Newton, Bodega Numanthia and Ao Yun. Its Fashion and
Leather Goods division includes Louis Vuitton, Christian Dior
Couture, Céline, Loewe, Kenzo, Givenchy, Thomas Pink, Fendi, Emilio
Pucci, Marc Jacobs, Berluti, Nicholas Kirkwood, Loro Piana and
Rimowa. LVMH is present in the Perfumes and Cosmetics sector with
Parfums Christian Dior, Guerlain, Parfums Givenchy, Kenzo Parfums,
Perfumes Loewe, BeneFit Cosmetics, Make Up For Ever, Acqua di
Parma, Fresh, Kat Von D and Maison Francis Kurkdjian. LVMH's
Watches and Jewelry division comprises Bvlgari, TAG Heuer, Chaumet,
Dior Watches, Zenith, Fred and Hublot. 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.
"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.”
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version on businesswire.com: http://www.businesswire.com/news/home/20171009005827/en/
Analysts and investors:LVMHChris Hollis, + 33
1.4413.2122orMedia:LVMHJean-Charles Tréhan, +33 1
4413.2026orFrance:DGM ConseilMichel Calzaroni/Olivier
Labesse/Thomas Roborel de Climens/Hugues Schmitt+ 33
1.4070.1189orUK:Montfort CommunicationsHugh Morrison /
Charlotte McMullen+44 7921.881.800orItaly:SEC and
PartnersMichele Calcaterra/ Matteo Steinbach+39 02
6249991orUS:KekstJames Fingeroth/Molly Morse/Anntal Silver+1
212.521.4800
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