Organic revenue from LVMH Moët Hennessy Louis Vuitton’s (LVMH) Selective Retailing division totalled €7,795 million/$9,010 million in the first nine months of this year.
The result delivered a 13% leap (+9% reported) for the period year-on-year, but this was down by 23% (organic) versus the same period in 2019.
While Sephora returned to its 2019 level of activity, grew its online revenue and expanded distribution links despite the tough commercial environment (which resulted in the closure of several stores), DFS Group remained ‘heavily constrained’ by the ‘very limited recovery in international travel to most destinations’.
GROUP REVENUE LIFTS 40% YOY
As reported, Samaritaine Paris Pont-Neuf by DFS unveiled in June dovetailing with the re-opening of the iconic La Samaritaine department store in the heart of central Paris (to view a picture gallery, click here), shortly before LVMH posted its half-year 2021 results.
The Bernault Arnault fronted luxury goods giant earned €44,177 million in the first nine months of 2021, up 46% (reported) year-on-year.
Organic revenue growth was +40% year-on-year and +11% compared to the same period in 2019.
Trends in the third quarter (+11%) were comparable to those in the first half, both by activity and by region.
“Within the context of a gradual exit from the health crisis, the Group is confident in the continuation of the current growth; it will maintain a strategy focused on continuously strengthening the desirability of its brands, by relying on the authenticity and quality of its products, the excellence of their distribution and the reactivity of its organisation,” LVMH Group said in a statement.
“LVMH is counting on the dynamic nature of its brands and the talent of its teams to further strengthen its global leadership position in luxury goods once again in 2021.”