LVMH Louis Vuitton Moet Hennessy shares rose $5.22 (3.56%) to $152,12 in U.S over-the-counter trading after the company issued its 9-month sales report, which reported the holding company’s sales rose 46% (40% organic) from the like-year-earlier period.
The company’s wines and spirits unit showed reported growth of 27% (30% organic) and 10% compared to 2019. Growth was particularly strong in the United States and Europe, which notably benefited over the summer from the reopening of restaurants and the gradual recovery of tourism. Hennessy cognac performed well with a 4% increase in volumes compared to 2019 while being limited by supply constraints. China and the United States experienced a strong rebound. The third quarter marked the integration for the first time of the prestigious Champagne Maison Armand de Brignac, in which LVMH has taken a 50% stake.
LVMH’s 46% sales surge was largely the result of its fashion and leather goods group which recorded organic revenue growth of 57% in the first nine months of 2021 compared to the same period of 2020 and 38% compared to 2019.