Third quarter results reveal steady growth at Moet Hennessy Louis Vuitton

Oliver Gill
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An unidentified employee of French cosme
Sales of Dior perfume boosted third quarter performance (Source: Getty)

Luxury goods group Moet Hennessy Louis Vuitton reported a positive first nine months of the year with sales of over €26bn.

Like-for-like sales increased by five per cent in the first nine months compared with 2015 and all five of its divisions revealed solid single-digit growth.

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The Paris-based group said that its third quarter had been boosted by a "significant improvement" in Asia excluding Japan. The US and Europe remained "well positioned", with the exception of its home base. "France... continues to feel the impact of a decline in the number of tourists," the group said in its announcement.

The best performer compared with the previous year was its perfumes and cosmetics division, which increased revenues by eight per cent for the first nine months and by 10 per cent in the third quarter alone.

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Together with fashion and leather goods, the group's watches division was comparatively sluggish with two per cent third quarter growth. Nevertheless, one of its Swiss brands performed well.

"TAG Heuer made great progress in a difficult market, benefiting particularly from the success of its new collections and its smartwatch," the group said.