The luxury group has reported a return to growth across the majority of its departments, including a 138 per cent year-on-year revenue increase on watches and jewellery.
LVMH has revealed its total revenues for the first quarter of the fiscal year 2021 rose by 32 per cent year-on-year to £12.1bn. The group has enjoyed a 138 per cent year-on-year increase for watches and jewellery and the group’s wine and spirits business recorded growth of 36 per cent to more than £1.31bn.
The largest portion of the group’s revenue for the period was contributed to by its fashion and leather goods arm, with Louis Vuitton, Christian Dior, Fendi, Celine, Loewe and Marc Jacobs contributing to £5.85bn in revenue for the period.
The group commented: “The United States and Asia enjoyed strong growth, while Europe is still affected by the crisis due to the impact of store closures across several countries and the suspension of tourism. In a context that remains turbulent, LVMH is well-equipped to build upon the hoped-for recovery in 2021 and regain growth momentum for all its business.”
