LVMH Q3 revenue shoots up, fashion and leather goods in the limelight

  • LVMH (OTCPK:LVMHF +0.8%reports strong rebound in Q3 with group's revenue at  €11.96B vs. €7.80B in prior quarter and €13.32B a year ago.
  • Organic growth in revenue saw a bump of 7% in the third quarter; however, reflecting a marked improvement in trends compared to the first half.
  • Notably, the re-opening of stores after pandemic shutdowns led a return to growth in Cognac and Fashion & Leather Goods (+12%) business segments while others saw a sequential improvement but continued the negative change. 
  • "The major brands are showing good resistance in a sector marked by a fall in both makeup demand and purchases made by international travellers, partially offset by the development in skincare........The new skincare brand Fenty Skin, developed by Rihanna, is off to a very promising start."
  • In selective retailing, Sephora gained market share in its main countries in particular led by the strong growth in online sales.
  • The travel retailer DFS saw a significant decline in its activity in most destinations as a result of the suspension of international travel, "which is showing no signs of improving."
  • The board's decision on interim dividend will be announced by the end of this month.
  • Previously: Tiffany-LVMH deal one step closer despite legal wrangling (Oct. 14)

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