Photo: Cheng Xin
The largest luxury conglomerate in the world, LVMH Moët Hennessy Louis Vuitton, said revenue continued to grow at a breakneck pace during the first few months of 2012 as pent up demand for high-end goods boosted sales.LVMH reported organic revenue surged 14 per cent to €6.582 billion, against expectations for €6.386 billion.
“The Group continued its excellent momentum at the start of the year with particularly fast growth in Asia and in the United States and good progress in Europe despite the contrasting environment,” LVMH said in a statement.
It’s largest division, fashion and leather goods, which includes its namesake Louis Vuitton label, saw organic revenue growth of 12 per cent. LVMH also attributed the increase to the strong reception to Celine, under creative director Phoebe Philo.
Recent acquisitions, including Bulgari, fuelled growth in its watch and jeweler segment.
Below, segment earnings provided by LVMH.