LVMH reports increased revenues in first quarter - leatherbiz: Leading Leatherbiz

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LVMH reports increased revenues in first quarter

12/04/2016
Luxury group LVMH closed the first quarter of 2016 with revenues of €8.6 billion euros, an increase of 4% on the same period last year.

The group’s fashion and leathergoods division remains the principal revenue generator but this quarter saw it remain at just under €3 billion euros, level with the first quarter of 2015. Revenues from watches and jewelry rose 7% year on year to €774 million euros whilst there was also a 7% increase from perfumes and cosmetics which generated revenue of €1.2 billion euros.

The company believes the lack of growth in fashion and leathergoods revenues can be attributed to a fall in tourism in France, although the rest of Europe and the US market remained strong. There were mixed results in Asia, but news from Japan was positive.

LVMH finished 2015 with total revenues of €35.7 billion, up 16% from the €30.6 billion achieved in 2014.

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