The LVMH group tries to turn the page compared to 2020 and returns to growth in the first quarter of the current year. The French luxury giant has closed the first three months of 2021 with revenues of € 14 billion, up 32% compared to the same period of 2020 and 30% on an organic basis, thus exceeding market expectations. If we compare this year’s data to that of the first quarter of 2019 (pre-pandemic), the growth is 8% thanks in particular to the contribution of the fashion & leather goods division, which saw an increase in turnover of 52% compared to last year and 37% compared to 2019.
In Paris today the stock of LVMH closed, before the release of the data, up by 0.86% to 594.80 euros per share.
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The divisions of the group
The evolution of the Wines & Spirits division was also positive, with revenues up 29% compared to 2020 and 17% compared to 2019. In the first 3 months of 2020, champagne consumption grew with + 22% of sales, concentrated in especially in the USA and Europe. The perfume and cosmetics division is slower with + 12% on 2020 but still down by 4% compared to 2019. While the jewelery and watches area marks a recovery of 138% in revenues compared to last year, but only a + 1% compared to the previous year.
A negative sign, on the other hand, in the retail network, where organic revenues decreased by 11% in the first quarter of 2021 compared to the first quarter of 2020 and by 30% compared to that of 2019. Sephora had a positive trend in a still difficult environment for retail trade in the sector especially in Europe. On the other hand, online sales have grown on all markets in the world.
I brand
In detail, Louis Vuitton recorded a growing preformance. In Japan, the brand has reopened the historic, renovated flagship store in the Ginza district of Tokyo following. Christian Dior also performed well, thanks also to the success of The Lady Dior bag and the new ready-to-wear collection. Fendi, for its part, unveiled the first collection signed by Kim Jones, just as Loro Piana presented its new collection.