Luxury products company LVMH revenue up in Q3

Luxury products company LVMH has reported 4% rise in revenue for the nine-month period of 2014, led by growth across most businesses, as stronger trading in Europe and the US made up for weakness in Asia.

Revenue for the nine-month period of 2014 climbed 4% to €21.4bn from €20.6bn a year ago. The company’s comparable sales growth reached 4% in the three months.

Sales in perfumes & cosmetics rose 4% in third quarter as compared to same period last year.

Parfums Christian Dior continued to benefit from the momentum of its iconic products, in particular with new momentum for J’Adore and the success of Dior Addict.

"The make-up segment also contributed to the good performance of the brand. Guerlain was boosted by the launch of its new men’s fragrance, L’Homme Idéal, and the growing success of its premium skincare range Abeille Royale. Fresh, Benefit and Make Up For Ever enjoyed excellent performances," the company said.

LVMH’s selective retailing business, which includes cosmetics retail chain Sephora and duty-free shops, had organic growth of 8%, down from 9% in the first half.

LVMH, which owns Dom Perignon and Moet & Chandon champagne, said wine and spirits sales fell 3% in the nine-month period, against 1% drop in the first half.

For the third quarter of 2014, the company said its revenue climbed to €7bn from €6.99bn in the prior year.