Louis Weedon's Revenue Increased By 4% But Was Frustrated In The Chinese Market.

< p > Beijing time on the morning of April 10th, MOET & CHANDON Hennessy - < a href= "//www.sjfzxm.com/news/index_c.asp" > Louis Vuitton "/a" micro-blog group (LVMH) said on Wednesday that the group's first quarter sales increased by 4% over the same period last year, but its growth rate in the Chinese market has slowed down. < /p >
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< p > Louis Weedon said that in the first quarter, the company's revenue was 7 billion 210 million euros (US $9 billion 950 million), an increase of 4% over last year's 6 billion 910 million euros. Excluding the impact of exchange rate movements and mergers and acquisitions (such as the acquisition of Italy's woolen fabric producers < a href= "//www.sjfzxm.com/news/index_f.asp" > woolen fabrics > /a >), the first quarter revenue grew by 6% over the same period last year. The exchange rate changes in the quarter caused a 5% negative impact on Louis Weedon's revenue. < /p >
< p > Louis Weedon's growth rate slowed down in the Chinese market in the first quarter, and its red wine and fruit wine sectors were the most affected, with revenue falling by 8% year-on-year. Louis Weedon said retailers cleared inventory in the quarter and did not order new products. The anti-corruption campaign launched by the Chinese authorities has led to a decline in demand for gifts such as brandy, watches and other luxury goods. Sales of fruit brands such as R e my Cointreau and Pernod Ricard have all declined. < /p >
< p > Louis Weedon's watches and jewelry department first quarter < a href= "//www.sjfzxm.com/news/index_s.asp" > Sales < /a > year-on-year. The group emphasised that its own boutique sold well, but sold poorly through wholesalers and independent retailers. At the same time, Louis Weedon (Louis Vuitton[micro-blog) brand sales performance is also very good, and the acquisition of Loro Piana trading also support the company's performance. < /p >