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LVMH sales soar in first quarter

Luxury goods group LVMH reported a 25% sales jump for the first quarter of the year as its fashion brands continued to see solid growth.

The group, which owns brands including Louis Vuitton and Marc Jacobs, said revenues grew to €6.6bn (£5.4bn) in the three months to March 31, a 14% growth on a like-for-like basis.

In its fashion and leather goods division, sales rose by 17% to €2.4bn (£2.0bn), or 12% on a like-for-like basis, with Louis Vuitton continuing its double digit growth.

A statement from LVMH said: “Louis Vuitton continued its progress thanks to demand driven by the enthusiasm of all of its clientele. One of the highlights of the quarter was the opening of the first Louis Vuitton “Maison” in Italy in a mythical cinema theatre in Rome. “

It added: “Fendi had a good start to the year and continued the renovation of its store network. The other brands saw rapid growth in their activities. Céline in particular recorded strong revenue growth due to the success of its collections.”

The group saw particularly fast growth in Asia and in the United States and also reported good progress in Europe.

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