Significant improvement for LVMH in the third quarter of 2020
LVMH Moët Hennessy Louis Vuitton recorded revenue of 30.3 billion euros in the first nine months of 2020, down 21%. Since the start of the year, LVMH has demonstrated good resilience in an economic environment severely disrupted by the serious health crisis. Revenue was down 7% in the third quarter on an organic basis, reflecting a marked improvement in trends compared to the first half, notably a return to growth in Cognac and Fashion & Leather Goods. The Watches & Jewelry business group saw its organic revenue decline by 30% in the first nine months of 2020. The rebound in China was observed in the third quarter but did not prevent the overall activity from dropping by 14% in the period.