LVMH CELEBRATES 95 RISE IN WINE AND SPIRIT PROFITS

The French owned luxury goods conglomerate, Moet Hennessy Louis Vuitton (LVMH) has recorded a successful 2013 with a total revenue of €29.1 billion, a 4% increase on the previous year. The group has amongst its brands Chateau d’Yquem, Dom Perignon and Veuve Clicquot. The company said it had see “remarkable performance” despite “challenging economic environment”. Wine and spirit sector saw revenues increase by 1% representing an organic growth of 6% while profits within the sector increased by 9 %. The Champagne market had seen sustained demand for its prestige vintages while other wines had recorded solid performances.

Bernard Arnault, chairman and CEO of LVMH said “2013 saw another excellent performance from LVMH despite exchange rate volatility and slower growth in European markets. “