Louis Vuitton Moët Hennessy , a global leader in luxury products, reported 30.3 billion revenues in the first 9 months of 2020, a fall of 21%, according to press release. Q3 revenues declined by 7% on an organic basis, representing an improvement in trends compared to the first half of 2020.
- LVMH to continue exercising caution, strengthen cost controls, and selectivity in investments given the continuing health and economic uncertainties
- LVMH will maintain a strategy focused on preserving brand value by continuing the marketing and communication investments and quality product offering
- Company to rely on brand power and talent to extend global leadership in the luxury market in 2020
- Interim dividend to be discussed by the board before the end of the month and announcement to follow
- LVMH countersuit against Tiffany is scheduled for trial on January 5, 2021.
- Trend improvements due to notable return to growth in Cognac, Fashion and Leather products and recovery in all regions especially the US and Asia
LVMH stock is gaining on improving Q3 trends. LVMH is up 6.91%