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LVMH Wines & Spirits Sees 8% Growth In First Three Quarters

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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.

Group Performance

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.

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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.

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