LVMH drinks division enjoys positive Q3
Luxury drinks giant Moët Hennessy has enjoyed a positive three quarters of the year so far with reported growth up 10%.
In the nine months of the year so far, LVMH’s drinks division has seen reported growth of 10% and organic growth of 7% to €3.9 billion, while the group as a whole has seen revenue grow 16% to €38.4bn.
Despite the trade war tussles, drinks growth was strong in both China and the US which experienced “steady demand”.
VS Cognac and prestige cuvée Champagnes performed well and saw strong growth although Champagne volumes overall were down slightly versus 2018.
LVMH said in a statement: “In a growth environment since the beginning of the year, albeit marked by an uncertain geopolitical context, LVMH will continue to be vigilant.
“The Group will pursue its strategy focused on innovation and targeted geographic expansion in the most promising markets. 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 2019.”