For Q1, LVMH sales rose 13 per cent on an organic basis. With this, LVMH has set an upbeat tone for the luxury industry. Prosperous Chinese consumers have been stocking up on LVMH’s Louis Vuitton handbags and Givenchy makeup, powering record sales last year for the company with the highest market value in France.
With more than 4,000 stores across the world, LVMH is getting a boost from a rising Chinese middle class that is traveling more than ever. It’s also gaining from a push into e-commerce and new products to entice young consumers -- like luxury sneakers and iPhone cases styled like Louis Vuitton trunks.
LVMH highlighted its digital efforts, such as its sponsorship for a startup accelerator that aims to encourage entrepreneurs developing new technologies and services for the luxury industry. LVMH moved to ramp up its e-commerce business across its stable of brands last year with new sites for its Celine handbags and Berluti shoes, the first online store in China for its largest brand, Louis Vuitton, and a new multibrand emporium. The company saw organic growth of 10 per cent or greater in categories such as spirits, fashion goods, cosmetics and jewelry.
