.LVMH revenues in the first quarter of 2021 totaled 13.9 billion euros, well above the 12.7 billion euros forecast by analysts.
PARIS – LVMH Moët Hennessy Louis Vuitton said revenues jumped 32 percent in the first quarter, as strong sales in Asia and the United States compensated for weakness in Europe, where some countries implemented renewed lockdown measures during the period.
Revenues in the first quarter of 2021 totaled 13.9 billion euros, well above the 12.7 billion euros forecast by analysts, according to a consensus estimate compiled by Bloomberg. After falling across the board last quarter, sales in other divisions showed signs of recovery, with the exception of selective retailing, which includes Sephora and DFS, LVMH’s travel-retail business.
The quarter marked the integration for the first time of Tiffany & Co., following its acquisition, which closed on Jan. 17. The U.S. jeweler saw an “excellent” start to the year, according to LVMH.