French luxury group LVMH has surpassed turnover expectations in the first three months of its fiscal year. Louis Vuitton and Christian Dior’s parent company managed a 12 % like-for-like turnover growth, to 30.1 billion euro.
Strong growth for Louis Vuitton
Those results outperformed analysts’ expectations, which stood at “merely” 9 %. The fashion and leather division grew 14 % on a like-for-like basis as Louis Vuitton continued its strong surge. Christian Dior, entirely integrated into the group recently, also performed admirably. The perfume and watch sales also grew 14 and 13 % respectively.
The company’s liquor division grew 8 %, which could have been more, but LVMH struggled with supplies for its brandy brand Hennessy. Nevertheless, the brand’s volume did grow 9 % in the first three quarters.
Despite these positive results, the company did warn for difficult market conditions that may impact its future results. “In an uncertain geopolitical world, LVMH will remain vigilant”, a press release reveals.