LVMH are stronger than Hong Kong riots, as fashion and leather goods are outstandingly overwhelming. The luxury French giant has made public the financial data about 2019 third quarter and the first nine months of the year: in the period, revenues have been increasing by 16%, therefore reaching 38.4 billion euros (+11% at fixed rates of exchange). Their Fashion and Leather Goods division did even better, as it drove over 41% of the overall turnover, while growing more than average: +22% at variable rates of exchange, +18% at fixed rates of exchange. “Louis Vuitton achieved an amazing performance in all of activities and business areas – the company emphasized in a press release –. Likewise, Christian Dior geared up remarkably”. Furthermore, “Loro Piana, Loewe and Rimowa have made progress as well”.
The third quarter
The third quarter proved to be the best of 2019 as regards sales. In fact, earnings increased by 17% compared to the same period of 2018 (+11% at fixed rates of exchange). “The United States and Europe have been going well, as much as Asia, despite riots and a complicated scenario in Hong Kong”, remarked LVMH. The Fashion and Leather Goods business unit grew by 19% at fixed rates of exchange, therefore gaining a higher turnover, compared to the first and the second quarter of the year.
LVMH are not expecting any slowdown in the next future. Conversely, the group is aiming “to further enhance its own worldwide leadership in the luxury market, throughout 2019”. While commenting the data, they stressed the fact that “LVMH will pursue its strategy based on innovation alongside a focused geographic expansion, in the emergent and most promising markets. LVMH will rely on the power of its brands as well as on the talented expertise of its team members”.