LVMH revenue totals €13.7bn in H1 2013

LVMH has reported strong growth in the first half of 2013, with recorded revenue totalling €13.7bn, up 6% on the previous year.

In the Perfumes & Cosmetics arm of the business, LVMH recorded a reported growth of 4% to total €1.804bn. According to LVMH, Parfums Christian Dior maintained good momentum, supported by its perfumes Miss Dior and J’Adore with Voile de Parfum, while Guerlain benefited from the continuing success of La Petite Robe Noire.

Overall, the group continued to experienced “good momentum” in the US and Asia, and continues to grow in Europe, against the backdrop of a more difficult economic environment. Among its latest acquisitions, LVMH bought an 80% share in the Italian cashmere clothier Loro Piana SpA in July 2013 for €2bn, adding to its portfolio of luxury brands. The acquisition was said to be LVMH’s biggest since the company bought Bulgari SpA in 2011.

Bernard Arnault, Chairman and CEO of LVMH, said: “The performance of LVMH in the first half, once again, demonstrates the exceptional appeal of our brands, the attraction of our high quality artisanal products and the relevance of our strategy. Innovation, extreme quality, strong distribution and savoir-faire in all of our businesses reinforce our Maisons. Loro Piana, with whom we share the same values of family and craftsmanship, will fit harmoniously within this dynamic. It is with confidence that we approach the second half of the year and rely on the creativity and quality of our products, as well as the effectiveness of our teams, to pursue further market share gains in our traditional markets as well as in high potential emerging territories.”