LVMH, the world’s largest luxury goods company, recently achieved a significant milestone as its shares reached an all-time high following impressive sales figures for the first quarter of 2021. During early session trading, the company’s shares surged by 2.7%, surpassing any previous records. This outstanding performance not only benefited LVMH, but it also had a positive impact on its competitors, including Kering and Hermes, whose shares experienced a notable increase.

Late on Tuesday, LVMH disclosed its first-quarter revenues, which surpassed even the levels seen before the pandemic in 2019. The company’s like-for-like sales, excluding the impact of currency fluctuations and the acquisition of U.S. jeweler Tiffany, demonstrated an impressive 30% year-on-year growth in the three months leading up to March, reaching a remarkable 14 billion euros ($16.75 billion).

Citing these exceptional figures, JP Morgan, in a research note, stated, “LVMH noted that Q1 was a ‘good start to the year,’ but to us, this is much better than ‘good’ and will once again stand as an absolute outperformance compared to the rest of the sector.”

The significant increase in LVMH’s shares throughout 2021 further emphasizes the company’s resilience and its ability to adapt to challenging circumstances. With a rise of approximately 20%, investors have undoubtedly recognized the continued success and growth potential of LVMH.

This remarkable growth serves as a positive indicator for the luxury goods sector as a whole, suggesting a strong recovery in the post-pandemic era. Being one of the industry leaders, LVMH’s success sets an encouraging precedent for other luxury brands and retailers.

The impressive rebound in LVMH’s sales figures reflects the company’s strong brand presence, high-quality products, and effective management strategies. By consistently delivering exceptional performance, LVMH continues to solidify its position as a dominant force within the luxury goods market.

Useful links:
1. LVMH Official Website
2. JP Morgan Official Website