LVMH Moët Hennessy Louis Vuitton posted a 13.6% rise in third-quarter sales as brisk business in most divisions helped offset a drag from unfavorable exchange rates and slower growth in its wine and spirits activities. Sales over the quarter were 10.38 billion euros, up 12% on an organic basis.
The largest division, fashion and leather goods, home to its star brand Louis Vuitton, clocked 13% growth on an organic basis for the quarter compared to the same period last year. LVMH highlighted the brands first smart watch as well as efforts to improve the quality of its distribution network as contributing to Vuitton’s performance over the first nine months. The label just opened a new Paris flagship on the Place Vendôme in Paris.
Perfumes and cosmetics grew the fastest, up 17 percent on an organic basis over the quarter. The company said supply constraints were the reason for a weaker performance from its wine and spirits division, which lagged other divisions with 4 percent organic growth over the quarter.