LVMH revenue grows in first half of 2016
27/07/2016
In the second quarter, total revenue was €8.6 billion, a 4% increase on the same period of 2015 and slightly exceeding first quarter growth.
“LVMH’s results for the first half of 2016 reflect, more than ever, the strength of our business model, which allows us to continue to grow even during an unstable geopolitical environment and economic and monetary uncertainties,” said Bernard Arnauly, LVMH chairman and CEO.
The company’s fashion and leathergoods division posted stable revenue in the first half of the year of €5.9 billion, avoiding the slight dip predicted by analysts. For Q2 revenue grew 1%. LVMH says “excellent creative momentum” at Louis Vuitton was key to this stability.
LVMH’s American market was described as “dynamic” and it said Europe was on track, with the exception of France, which it says is still experiencing a decrease in tourism. Sales in Asia were steady in the first half of the year.
Share this story:
