LVMH's Wines & Spirits Division Posts 7% Rise In Organic Sales
The Wines & Spirits division of luxury-goods maker LVMH Moët Hennessy Louis Vuitton has posted organic sales growth of 7% in the first nine months of 2018, the company said.
Reported sales were up 1% at the division, which recorded sales of €3.56 billion for the period, up from €3.51 billion a year earlier, with its Chinese and US markets seeing 'rapid' growth.
It said that champagne volumes were 'stable' over the nine-month period, while prestige vintages 'performed particularly well while continuing a price increase policy'.
Its Hennessy cognac brand saw sales rise by 4%.
Overall, the business posted an 11% increase in organic revenue (reported sales up 10%), reaching €33.1 billion for the period. The group said that 'all geographical areas progressed well' during the nine-month period.
In the third quarter, revenue was up 10%, compared to the same period in 2017, which continued the group's positive trend in the first half of the year.
Looking ahead to the remainder of the year, LVMH said that in an 'uncertain geopolitical and monetary context' it will 'continue to be vigilant' and continue its innovation strategy.
'The group will pursue its strategy focused on innovation and targeted geographic expansion in the most promising markets,' it wrote in a statement. 'LVMH will rely on the power of its brands and the talent of its teams to further extend its global leadership in the luxury market in 2018.'
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.