The French luxury products group LVMH, which owns such iconic brands as Louis Vuitton, Christian Dior and Dom Pérignon, has once again amazed the market with its astounding quarterly results.
Fashion & Leather Goods
In the third quarter, Bernard Arnault's luxury group grew by 17% to 13.3 billion euros. Looking at organic revenue, i.e. excluding acquisitions, the group's turnover increased by 11%, therefore exceeding the expectations of analysts, which were, nonetheless, still high.
All of the group's activities improved in the third quarter, but the Fashion & Leather Goods business group in particular performed exceptionally well, with organic growth of 19%. The French group now derives more than 40% of its revenues from the sale of fashion and leather products.
It is also certain that the success of LVMH is due to Arnault's well thought-out strategy. This year, LVMH concluded some important deals with pop star Rihanna and designer Stella McCartney.