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French retailer LVMH reports 6% increase in Q1 revenue

RBR Staff Writer Published 16 April 2013

French multinational luxury goods company LVMH Moët Hennessy Louis Vuitton (LVMH) reported a 6% rise in revenues to €6.9bn in the first quarter (Q1) 2013.

The sales growth was aided by strong growth in Asia and the US, while Europe demonstrated good resistance despite a challenging economic environment.

Revenue of the Wines & Spirits division rose 7% from a year earlier, while revenue from its Fashion & Leather Goods business grew 3% in the first quarter of 2013.

Perfumes & Cosmetics business' organic revenue growth was 5% while Watches & Jewelry revenue for the period rose 2%.

In Selective Retailing, organic revenue growth surged 17% in the first quarter of 2013. Duty-free retailer DFS also reported growth driven by the continued growth in Asian tourism despite a decline in expenditure from Japanese tourists.

LVMH's first quarter online sales also posted positive performance.

The company has a portfolio of over 60 brands, including Louis Vuitton, Fendi, Givenchy, Christian Dior, TAGHeuer, Zenith, Bulgari, Chaumet, De Beers, Fred.

The company also operates selective retailing stores under the banner DFS, Miami Cruiseline, Sephora and Le Bon Marché. It operates more than 3,000 stores worldwide.