LVMH Reports Third-Quarter Results

Louis Vuitton Spring 2016 Paris Fashion
Louis Vuitton spring '16 runway collection.
Getty Images.

LVMH Moët Hennessy Louis Vuitton recorded a 7 percent sales jump in the third quarter, while total revenues for the first nine months of the year grew significantly, soaring 18 percent.

Q3 revenues totaled 8.6 billion euros, or $9.5 billion, while revenues for the first nine months were 25.3 billion euros, or $27.8 billion.

Watches and jewelry showed the greatest gains in both periods,  up 11 percent organically in the third quarter and 10 percent for the nine-month period.

Fashion and leather goods decelerated in the quarter, with organic growth of 3 percent, totaling 2.9 billion euros, or $3.2 billion. The category rose 5 percent — 16 percent on a reported basis — during the first nine months of 2015.

“Louis Vuitton continued its growth and displayed strong creative momentum in all of its collections,” the company said in a release. “Leather goods, in particular, saw great success with the creativity around monogram and craftsmanship on leather. The stores’ evolution, the opening of the house at Asnières — on the same site as Louis Vuitton’s historic workshop — marked the third quarter. Fendi generated strong revenue growth, thanks to the excellent performance of all its products.”

The company noted that Céline, Givenchy and Kenzo experienced “sustained revenue growth,” while Marc Jacobs and Donna Karan continued to reposition their collections.

“In an uncertain economic and financial environment, LVMH will continue its strategy focused on innovation and targeted geographic expansion in the most promising markets,” the company said in statement. “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 2015.”

* All currency conversions are calculated based on period average.