PARIS -- Sales of LVMH Moet Hennessy Louis Vuitton in the first quarter ended March 31 rose 28 percent, to $1.06 billion (6.02 billion francs) at current exchange rates, powered by strong performances at its Louis Vuitton business and by...
PARIS -- Sales of LVMH Moet Hennessy Louis Vuitton in the first quarter ended March 31 rose 28 percent, to $1.06 billion (6.02 billion francs) at current exchange rates, powered by strong performances at its Louis Vuitton business and by cognac interests.
Almost one quarter of the sales increase, the luxury goods conglomerate further reported, was due to acquisitions, mainly the Kenzo fashion and fragrance business. In the 1993 quarter, LVMH sales came to 4.69 billion francs. Profit figures were not reported.
In addition to Vuitton and Kenzo, LVMH owns the Givenchy and Christian Lacroix fashion and fragrance businesses, Parfums Christian Dior, Hine and Hennessy cognac and one quarter of the French champagne market, including Veuve Clicquot, Pommery, Dom Perignon and Moet et Chandon. Last week LVMH acquired majority control of the fragrance firm Guerlain.
Breaking down the quarterly sales results into LVMH's main segments, the company reported that luggage and leather goods jumped 38 percent to $290 million (1.6 billion francs), against 1.19 billion francs a year ago.
Sales of Taig -- Louis Vuitton's first line specifically for men, which it launched last year -- accounted for 3 percent of Vuitton's turnover. LVMH does not release sales by each brand, but it noted a 20 percent increase in sales of Loewe, the Spanish leather goods resource it controls outside of Spain.
Perfume and beauty sales advanced 24 percent to $264.1 million (1.5 billion francs), against 1.15 billion francs. Part of the increase came from Parfums Christian Dior's first-quarter launch of Tendre Poison perfume and Hydra Star skin care products.
Cognac and spirits sales grew 32 percent, to $261.6 million (1.48 billion francs), buoyed by increased shipments of better vintage products and strong sales in Japan and China. Champagne sales grew 9 percent, to $151.8 million (860 million francs).
Sales in other activities, which include the fashion businesses of Givenchy, Kenzo and Christian Lacroix, recent acquisitions and horticultural interests, grew almost 2 1/2 times to $94.8 million (537 million francs), against 218 million francs a year earlier.
LVMH also said that its board will propose a bonus share distribution of one share for every 10 shares currently held. That is subject to approval at the company's annual shareholders meeting, June 17.
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews
“Stranger Things” is getting a new cast member for season 2. Meet @sadiesink_, the 15-year-old who will be joining the Netflix series for its new season. You may recognize her from “The Glass Castle” with Brie Larson and Woody Harrelson, but the Texas native’s next role goes in an entirely different direction. She describes her character, Max, as “a rough and tumble skater girl [who] becomes friends with the boys at school.” The second season debuts on October 27. (📷: @jgreenery) #wwdeye
Amid the Harvey Weinstein controversy, there’s another sector that’s being put under the spotlight for sexual abuse: the modeling industry. While rumors about abuse and sexual harassment of female and male models — and the photographers, agents and others who perpetrated it — have circulated within the fashion world for years, model @cameronrussell started posting stories from models on Instagram last week about abusive situations they’ve encountered — from sexual harassment and molestation to attempted rape. Over 75 have weighed in so far. Read more on WWD.com. Link in bio. #wwdnews
To celebrate its 16th anniversary, @dylanscandybar tapped designers and celebrities to create mosaics out of candy. The mosaics will be auctioned off to support the philanthropic cause of each participant’s choice. Pictured here is the mural created by @aliceandolivia's Stacey Bendet. For a first look at some of the other artwork being unveiled tonight, go to WWD.com. #wwdeye
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye