The world leader in luxury LVMH, a group with 75 houses including Louis Vuitton, Dior and Dom Pérignon, started the year on a high note with sales in the first quarter of 2021 exceeding those of 2019. LVMH thus exceeded its performance of before the Covid-19 pandemic.
LVMH Group's results for the first quarter of 2021 can be seen as an indicator of the recovery of the global economy, and they are excellent.
The luxury giant sold more products in the first three months of 2021 than over the same period in 2019, with an increase of 8%.
This means the group is exceeding its performance before the Covid-19 pandemic.
And compared to the first quarter of 2020, marked by the onset of the crisis, turnover growth of 32%.
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What sells very well at LVMH are clothing and leather goods, with sales up nearly 40% compared to 2019. Brands like Louis Vuitton and Christian Dior are taking full advantage.
After a very complicated 2020, there is of course a catching-up effect: people who can want to have fun after these months more or less stopped.
Takeover in China and the United States
This is very true in China: the country has been restarting very strongly for months and the situation there is almost normal.
The reboot is remarkable in the United States as well.
The authorities are roundly vaccinating their population and investing billions of dollars to support their economy.
Result: the country is also seeing a sharp rebound in consumption.
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Even if it means having fun, we also seem to want to drink: sales of cognac, for example, are growing strongly, again in China and the United States.
On the other hand, a sign that we still do not travel as we would like: the Duty Free activities of LVMH remain at half mast.
In any case, these performances show that the economy can pick up very quickly, as soon as life resumes.