French luxury goods company LVMH Moët Hennessy Louis Vuitton has achieved revenue of €3.6 billion in the first quarter, representing growth of 15 percent over the same period last year - a comparative period where revenue had also seen double-digit growth.
All business groups recorded strong progress, continuing the trends observed in 2005. The US and Asia continue to develop at an impressive rate. Europe continues to yield excellent performance and the recovery in Japan continues.
Wines & Spirits recorded 23 percent revenue growth in Q1 2006. Strong volume growth in champagne (+10 percent) was accompanied by a sustained pricing policy and further improvements in product mix.
Fashion & Leather Goods revenue grew 14 percent over the quarter. Louis Vuitton continued to deliver double-digit organic revenue growth, recording exceptional progress in the US and in Asia. Europe also saw rapid progress, notably due to a strong performance from the new Maison on the Champs Elysées. The Japanese market is buoyant again.
New leather good products, alongside the traditional lines, were very well received with several models quickly moving to waiting lists. Fendi continued its rapid expansion and its leather goods revenue grew strongly over the period. The Spy range and the B.Fendi collections are two examples of the brand's excellent potential and improvements in the distribution network continue. The group's other brands enjoyed a very good start to the year.
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