LVMH 9-Month Sales Surge 46%

(RTTNews) - LVMH Moët Hennessy Louis Vuitton, (LVMHF.PK, LVMUY.PK) the world's largest maker of luxury goods, Tuesday reported a 46% surge in revenues in the first nine months of 2021, as all segments recorded revenue growth, as economy revives from the coronavirus pandemic.

Total revenues for nine-month period surged 46 percent to 44.18 billion euros from 30.35 billion euros last year. Organic sales rose 40 percent compared to the same period in 2020.

Nine-month period revenue for wine and spirits segment rose 27 percent to 4.25 billion euros, while fashion and leather goods gained 53 percent to 21.32 billion euros. Perfumes and cosmetics segment jumped 27 percent to 4.67 billion euros and watch and jewelry segment nearly tripled to 6.16 billion euros from 2.27 billion euros last year. Selective retailing segment increased 9 percent to 7.18 billion euros.

Looking forward, LVMH said that it is "confident in the continuation of the current growth" and "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 organization."