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LVMH first quarter sales rise

LVMH, the luxury goods group that owns Louis Vuitton and Marc Jacobs, saw first quarter sales in its fashion and leather goods division rise by 17% thanks to strong performances from Louis Vuitton, Fendi, Donna Karan and Celine.

Total sales for LVMH grew by 17% to €5.25bn (£4.63bn) in the three months to March 31.Organic revenue growth was 14%. Europe was among the territories which enjoyed strong momentum.

Sales in the group’s fashion and leather goods division were €2.03bn (£1.79bn) in the quarter, a 17% rise and representing organic growth of 13%.

LVMH said in a statement: “Louis Vuitton continued its exceptional momentum which was driven by the enthusiasm of both local clients and tourists for its high quality products.”

It added that both Fendi and Donna Karan continued their rapid sales growth and other brands, in particular Céline, put in a strong performance.

The group said after the earthquake in Japan last month the company’s teams in the local area had worked hard to achieve a gradual return to normal business.

The group added: “Taking into account the geopolitical and economic environment, LVMH will continue to focus its efforts on developing its brands, will maintain a strict control over costs and will target its investments on the quality, the excellence and the innovation of its products and of their distribution.”

LVMH recently sparked speculation that it could launch a takeover bid of luxury group Hermes. It upped its shares in the group to over 20% in December. In March LVMH also announced it was to take control of accessories giant Bulgari.

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