A golden quarter (above expectations) for LVMH. The French fashion giant registered 10.38 billion Euros in the third quarter of 2017 under the guide of Bernard Arnault. Organic growth of 12% in a year for the group, which is in line with the +13% and +12% of the first two quarters, doubled that of the previous year (6%). The group’s sales in the first 9 months of the year was at 30.1 billion Euros (+12%), all in a “uncertain geopolitical and monetary context”, says the group in a note, pointing out that “it will continue to stay vigilant”. LVMH has, among other things, announced its intention to continue with “a strategy focused on innovation and geographical expansion”, which has the objective of “further strengthening the group’s growth on the global luxury market in 2017”. Fashion and leather goods remain the driving factors for the group’s success, with sales of 10.838 billion Euros in the first nine months of the year (+14%). Louis Vuitton, brand of reference for the group, also performed well: +13% (3.94 billion Euros). The group’s results clearly impacted the value of its stock, which sets another new record at 237 Euros.
LVMH just won’t stop: +12% in the last quarter. Fashion and leather goods sales are through the roof: +14% in nine months
