French luxury group LVMH has recorded 44.2 billion euros in sales in the first nine months of the year, 46 % more than in the same period last year and another new record. However, the explosive growth slowed down somewhat in the past three months.
Well above pre-Covid levels
From July to September, LVMH achieved sales of 15.5 billion euros, slightly exceeding expectations. On an annual basis, this represents a growth of 15 %. Revenues are also 11 % higher than in the (pre-Covid) third quarter of 2019, Belgian newspaper De Tijd writes.
LVMH’s figures are strong, but are overall less spectacular than the 56 % growth recorded during the first half of the year, driven by the easing of Covid measures.
Growth all around
The highest organic growth rate within Bernard Arnault’s group came from the fashion and leather goods division, also in the third quarter. The division increased by 24 %, as Louis Vuitton products were particularly popular.
Other activities also continued to grow: the beverage division benefited from the reopening of the hospitality industry and ended the quarter with a 10 % increase. The perfume and cosmetics business grew organically by 19 % and the watch division by 18 %.
