Executive Summary

• LVMH reported 1Q19 sales of €5 billion, with 11% year-over-year organic growth, or growth of 16% on a reported basis.
• Revenues at the company’s fashion and leather goods group rose 15% in constant-currency terms, or 20% on a reported basis, to €5.1 billion, setting the pace at LVMH.
• Louis Vuitton and Christian Dior had an exceptional 1Q19, according to management on the investor call, outperforming the fashion and leather goods group brand portfolio.
• Both the perfumes and cosmetics and wine and spirits groups achieved 9% constant-currency growth in 1Q19, followed by selective retailing at 8%, and watches and jewelry at 4%.