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LVMH Q1 Revenues Up 32%

Luxury products maker LVMH Moet Hennessy Louis Vuitton (LVMHF.PK,LVMUY.PK) Tuesday reported first-quarter revenues of 13.96 billion euros, up 32 percent from 10.60 billion euros last year.

On an organic basis, revenues surged 30%.

The company said "the quarter marks a return to growth after several quarters of decline during 2020, a year that was severely disrupted by the global pandemic."

All business groups, except selective retailing, reported revenue growth, with Wines & Spirits up 29%, Fashion & Leather Goods up 45%, Perfumes & Cosmetics up 12%, Watches & Jewelry surged 138%, while Selective Retailing tanked 11%.

Selective Retailing was impacted by the continued restrictions on international travel.

The United States and Asia enjoyed strong growth, while Europe is still affected by the crisis due to the impact of store closures across several countries and the suspension of tourism.

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