French luxury group LVHM has increased its third quarter 2014 turnover by 5.7 % to 7.388 billion euro, mainly because of excellent European and American sales. Asian sales were more laboured.
Wine and liquor have lagged behind
Nearly all product categories have progressed: fashion and leatherwear went up 3 %, jewelry went up 5 % (thanks to Bulgari), cosmetics and perfumes even went up 8 %. Wine and liquor failed to follow suit, especially since anti-corruption measures have forced Chinese officials to refuse liquor as a gift.
Cosmetics and selective sales have grown the most: both branches improved their like-for-like turnover 8 % after 9 months compared to 2013. Christian Dior's perfumes were the biggest contributor in the cosmetics department while the Sephora, DFS, Le Bon Marché, La Samaritaine and Royal Van Len chains boosted the selective sales department.
LVMH has already managed a 21.397 billion euro turnover in the first 9 months of 2014, while the same period in 2013 "merely" yielded 20.622 billion euro. The company refused to give full-year forecasts, but the group has said it will keep focusing its expansion in the most promising markets.