LVMH 2020
Q1
REVENUE
APRIL 16, 2020
Louis Vuitton
DISCLAIMER | 2 |
This document may contain certain forward looking statements which are based on estimations and forecasts. By their nature, these forward looking statements are subject to important risks and uncertainties and factors beyond our control or ability to predict, in particular those described in LVMH's Management Report of the Board of Directors which is available on the website (www.lvmh.com). These forward looking statements should not be considered as a guarantee of future performance, the actual results could differ materially from those expressed or implied by them. The forward looking statements only reflect LVMH's views as of the date of this document, and LVMH does not undertake to revise or update these forward looking statements. The forward looking statements should be used with caution and circumspection and in no event can LVMH and its Management be held responsible for any investment or other decision based upon such statements. The information in this document does not constitute an offer to sell or an invitation to buy shares in LVMH or an invitation or inducement to engage in any other investment activities.
Q1 2020 REVENUE | 3 |
Q1 2020 REVENUE
HIGHLIGHTS
| Good resilience in an economic environment disrupted by a major health crisis and limited international travel | All regions impacted by Covid-19; China in-store traffic and sales improving
| Resilience of major brands Louis Vuitton, Christian Dior Couture and Moët Hennessy
- Acceleration of online sales partially mitigating retail store closures, which began in January for China and March for Europe and US
| Destocking at retailers began for Wines & Spirits, Perfumes & Cosmetics and Watches & Jewelry
- Several initiatives to support authorities in fight againstCovid-19, and ensure employee and customer safety
- Teams strongly engaged in taking measures to adapt businesses to the evolving environment
Q1 2020 REVENUE | 4 |
Q1 2020 REVENUE
In millions of euros
12 538 | Organic | Structure | Currency |
impact | effect | ||
10 596 | |||
- 17% | + 1% | +1% | |
- 15% | |||
Q1 2019 | Q1 2020 |
Q1 2020 REVENUE | 5 |
Q1 2020 REVENUE
BY REGION
In % of total revenue
18%
25% | 8% | EUROPE | |
FRANCE | (exc. France) | ||
29% | 8% | ||
UNITED STATES | |||
(inc. Hawaii) | ASIA | JAPAN | |
(exc. Japan) |
12%
OTHER
MARKETS
Q1 2020 REVENUE | 6 |
REVENUE CHANGE
BY REGION
Organic growth | Q1 2020 | |
versus same period in 2019 | ||
UNITED STATES* | - | 8% |
JAPAN | - | 10% |
ASIA (EXCLUDING JAPAN) | - | 32% |
EUROPE | - | 10% |
* Exc Hawaii. |
Q1 2020 REVENUE | 7 |
WINES & SPIRITS
Q1 2020 REVENUE
In millions of euros | Champagne & Wines | Cognac & Spirits | ||
1 349 | Organic | Structure | Currency |
impact | effect | ||
1 175 | |||
458 | |||
- 14% | 0% | 448 | |
+ 1% | |||
891 | -13% | 727 | |
Q1 2019 | Q1 2020 |
Q1 2020 REVENUE | 8 |
WINES & SPIRITS
Q1 2020 HIGHLIGHTS
- CHAMPAGNE & WINES
- Champagne volumes down 6 %
- Positive price effect
- Resilience in US thanks topre-lockdown orders; Europe impacted in March by Covid-19
- Good momentum of sparkling wines, especially Maison Chandon in Argentina, and Rosé wines
- COGNAC & SPIRITS
- Hennessy volumes down 13 % due to VSOP and XO
- Continued growth in the US thanks topre-lockdown orders
- China demand impacted by bothCovid-19 and timing of Chinese New Year
- Volume growth at Glenmorangie and Belvedere
Q1 2020 REVENUE | 9 |
FASHION & LEATHER GOODS
Q1 2020 REVENUE
In millions of euros
Organic | Structure | Currency |
impact | effect | |
5 111 | ||
4 643 | ||
- 10% | 0% | + 1% |
- 9% | ||
Q1 2019 | Q1 2020 |
Q1 2020 REVENUE | 10 |
FASHION & LEATHER GOODS
Q1 2020 HIGHLIGHTS
Resilience of major brands despite closed stores and production sites in several countries
- Louis Vuitton and Christian Dior: sustained creative momentum
- Majority of stores closed frommid-March in Europe and US and limited international travel
- Online sales growth accelerating
- Early signs of recovery in Mainland China, Taiwan and Korea
- Other brands focused on strengthening their resilience to the current environment
- Cancellation or postponement of fashion shows
Q1 2020 REVENUE | 11 |
PERFUMES & COSMETICS
Q1 2020 REVENUE
In millions of euros
Organic | Structure | Currency |
impact | effect | |
1 687 | ||
1 382 | ||
- 19% | 0% | + 1% |
- 18% | ||
Q1 2019 | Q1 2020 |
Q1 2020 REVENUE | 12 |
PERFUMES & COSMETICS
Q1 2020 HIGHLIGHTS
- Major brands benefiting from acceleratinge-commerce in context of Covid-19
- Resilience of Skincare
- Destocking by retailers in Asia impactedsell-in
- Christian Dior: new Eau de Toilette Dior Homme, skincare Capture Totale and Miss Dior Rose N'Roses perfume
| Guerlain: Asia performed well with strong online growth in China; continued success of skincare Abeille Royale
- Parfums Givenchy: good performance of Le Rouge lipstick and Prisme Libre line
- Good performances of Acqua di Parma and Kurkdjian
Q1 2020 REVENUE | 13 |
WATCHES & JEWELRY
Q1 2020 REVENUE
In millions of euros
Organic | Structure | Currency |
impact | effect | |
1 046 | ||
792 | ||
- 26% | 0% | + 2% |
- 24% | ||
Q1 2019 | Q1 2020 |
Q1 2020 REVENUE | 14 |
WATCHES & JEWELRY
Q1 2020 HIGHLIGHTS
| Bvlgari: strong impact from store closures in Asia and reduced international travel
| Chaumet: inauguration of fully renovated iconic Place Vendôme store in Paris
| After good start to year for TAG Heuer and Hublot, destocking by retailers in most markets | TAG Heuer: strong impact of launch of third generation luxury connected watch
| Successful first edition in January of LVMH's watchmaking Maisons at Bvlgari Resort Dubai
Q1 2020 REVENUE | 15 |
SELECTIVE RETAILING
Q1 2020 REVENUE
In millions of euros | Organic | Structure | Currency |
impact | effect | ||
3 510 | |||
2 626 | |||
- 26% | 0% | + 1% | |
- 25% | |||
Q1 2019 | Q1 2020 |
Q1 2020 REVENUE | 16 |
SELECTIVE RETAILING
Q1 2020 HIGHLIGHTS
- SEPHORA
- Market share gains thanks to online leadership
- All stores closed in Europe and US until further notice, starting inmid-March
- Rapid progress of worldwide online sales
- DFS
- Strong decline in revenue due to reduction in travel
- Reduction in cost structure and selling expenses
Q1 2020 REVENUE | 17 |
Q1 2020 REVENUE SUMMARY |
| LVMH showed good resilience, in particular at major brands, and is well positioned to gain market share
| Impact of destocking at retailers in Wines & Spirits, Perfumes & Cosmetics and Watches & Jewelry began in Q1 | Closure of production sites and stores in several countries to impact Group's results, too early to give estimates
- Focus on innovative and high quality products, more selective investment, notably in store network expansion, cost management and agility in a low visibility and difficult economic environment
REINFORCE WORLD LEADERSHIP POSITION OF LVMH IN LUXURY GOODS
2020
Q1
REVENUE
APRIL 16, 2020
Parfums Christian Dior
Attachments
- Original document
- Permalink
Disclaimer
LVMH - Moët Hennessy Louis Vuitton SA published this content on 16 April 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 April 2020 16:05:21 UTC
