LVMH Wines & Spirits Sees 8% Growth In First Three Quarters
The wine and spirits arm of LVMH Moët Hennessy Louis Vuitton recorded organic revenue growth of 8%, to €3.51 billion, in the first nine months of the year, the luxury-goods company has revealed.
In particular, champagne volumes were up 4%, when compared to the same period last year, with particularly strong demand in Europe and Japan.
Meanwhile, sales of Hennessy cognac were up 9% in the first nine months, despite a third-quarter decline related to supply constraints.
Overall, LVMH (including drinks, fashion, perfume and jewellery) recorded revenue of €30.1 billion in the first nine months of the year, representing an increase of 14%, when compared to the same period in 2016.
All business groups recorded double-digit organic growth, with the exception of the wines and spirits unit, which was limited by supply constraints.
In terms of outlook, the group says that it will pursue its strategy focused on innovation and targeted geographic expansion in the most promising markets.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.