LVMH Moët Hennessy Louis Vuitton (LVMH), the world’s leading luxury products group, recorded revenue of €17.2 billion in the first half of 2016, an increase of three percent. Organic revenue growth was four percent compared to the same period in 2015. The American market is dynamic, while Europe remains on track, with the exception of France, which has been affected by a decrease in tourism. Asia improved steadily during the period.
The watches & jewellery business group recorded organic revenue growth of four percent. On a reported basis, revenue growth was four percent and profit from recurring operations was stable. Bvlgari continued its growth and outperformed the market. The brand maintained its strong creative momentum, notably with the enhancements to the iconic B Zero 1 and Diva collections. With good progress in a different market, TAG Heuer gained market share and recorded the first positive effects of the development of its core offering. Its new Connected watch was an immense success.
Bernard Arnault, chairman and CEO of LVMH commented: “LVMH’s results for the first half of 2016 reflect, more than ever, the strength of our business model, which allows us to continue to grow even during an unstable geopolitical environment and economic and monetary uncertainties. The diversity of our business, the entrepreneurial style of our brands and the agility of our organisation all contribute to the growth of the group. By remaining vigilant, we face the second half of the year with confidence and count on the quality of our products and the talent of our teams to further strengthen our leadership in the world of high quality products in 2016.”
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