High-single-digit growth in nearly all business divisions bolstered fourth-quarter revenue at LVMH Moët Hennessy Louis Vuitton by 8.7 percent to 11.27 billion euros, or $11.95 billion.
Organic growth for the three months to Dec. 31 was 8 percent. The luxury giant and parent of Louis Vuitton and Fendi said the American market remains “on a good track” as does Europe. Asia, excluding Japan, continued its “good momentum.” In the Americas and Europe, LVMH is bucking the trends of other luxury goods groups, which faced major headwinds in both markets last year.
Sales in LVMH’s key fashion and leather goods division advanced 8.2 percent to 3.78 billion euros, or $4.01 billion, in the period, and registered 9 percent organic growth, beating analysts’ estimates of 5 percent.
All figures have been converted at current exchange for the periods to which they refer. The only division that notched double-digit organic growth in the quarter was selective retailing, which was up 11 percent.
In the full year, revenue climbed 5.4 percent to 37.60 billion euros, or $39.86 billion, with organic revenue growth at 6 percent.
Bernard Arnault, chairman and chief executive officer of LVMH, called the year’s performance “excellent,” within a context of geopolitical and economic instability. He said all the brands maintained “rigorous execution of their strategies on the ground.”