LVMH revenue inches up for first quarter of 2016, with perfume and cosmetics in hot demand but fashion falling flat

 
Hayley Kirton
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Europeans and their love of bubbles really helped out LVMH in its first quarter (Source: Getty)

Luxury goods company LVMH reported that revenues had edged up in its first quarter of 2016, although sales of its fashion and leather goods had failed to budge.

The company reported total revenues of €8.6bn (£6.9bn) for its first quarter of 2016, up just four per cent compared with €8.3bn the year before.

Sales across all categories grew during the period, with the exception of fashion and leather goods, where sales remained flat. The company noted that, while Fendi performed well, Donna Karan and Marc Jacobs continued to "work on the evolution of their product lines".

The company's wine and spirits division reported sales of €1bn, up four per cent from €992m the year before, thanks in part to demand for champagne in Europe.

Meanwhile, revenues across perfumes and cosmetics grew to €1.2bn, a increase of seven per cent compared with €1.1bn in the prior year, with the launch of new scent Poison Girl proving a particular highlight of the period.

Shares in the company, which is listed in Paris, closed up 0.3 per cent at €146.05.

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