LVMH shows signs of recovery in Q3

The wine and spirits business of LVMH saw a marked improvement in trends during its third quarter after significant losses in the second quarter of 2020. Organic revenue for wine and spirits fell by 3% in the three months to 30 September to €3.349 billion (US$3.9bn), markedly better than the 33% sales drop in the second quarter, and the 14% decline in the first quarter. Organic revenue for the first nine months of 2020 was…

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LVMH sales plummet in H1 due to Covid-19

The wine and spirits arm of LVMH saw profits plunge during the first half of 2020 due to the economic challenges brought on by the Covid-19 pandemic. Wine and spirits sales fell by 23% on an organic basis during the first half of 2020. Sales fell to €1,985 million (US$2,328m), down from €2,486m (US$2,916m) during the same period last year. Profit from recurring operations fell 29% during the six-month period to €551m (US$646m), down from…

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China boosts LVMH wine and spirits growth

The wine and spirits arm of LVMH has reported single-digit organic revenue growth for the first nine months of 2019, boosted by “strong” gains in China. The wine and spirits business recorded organic revenue growth of 7% over the period, also helped by “steady demand” in the US. Henessy Cognac volumes rose 10% during the nine months, driven by the VS ranges. This was offset by a slight decline in Champagne volumes. Looking at the…

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Revenue growth for LVMH wine and spirits arm in H1

The wine and spirits arm of LVMH recorded organic revenue growth of 6% in the first half of 2019, bolstered by the “solid growth” of Hennessy Cognac. Total LVMH revenue hit €25.1 billion (US$27.9bn) over the period, an increase of 15% with “strong growth” in Asia, the US and Europe, particularly in France. Profit for the period hit €5.2bn (US$5.7bn), an increase of 14%. Belvedere vodka owner LVMH saw its drinks revenue reach €2.48bn (US$2.7bn).…

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LVMH donates €200m to help repair Notre-Dame

French luxury goods company LVMH has pledged €200 million (US$226m) to help rebuild the Notre-Dame cathedral in Paris after a major fire tore through the famous monument yesterday evening (15 April). The fire at the medieval Catholic cathedral began at 6.30pm CEST, quickly reaching the roof of the cathedral and destroying the spire. Firefighters managed to save the 850-year-old building’s main structure, with the fire fully extinguished this morning (16 April). The cause of the…

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