With a corporation like LVMH, an umbrella that covers so many different companies -- from Veuve Clicquot to Sephora to Céline -- it's difficult to asses how each brand is doing individually. But in a press release sent out Wednesday detailing revenue for the first quarter of 2014, the company gave us a hint about the current status of the biggest brand in its fashion and leather goods group: Louis Vuitton.
While we don't care much that revenue for wines and spirits saw an eight percent decline (bummer), we are intrigued by the fact that revenue for fashion and leather goods went up 11 percent -- the biggest increase of all of LVMH's business groups -- especially since there's been a lot going on lately at Louis Vuitton. The company says the brand's growth was "propelled by a strong creative momentum," adding that "The first show of its new artistic director, Nicolas Ghesquière, was enthusiastically received." It also highlighted the success of new models in the Monogram line and the development of leather lines. Presumably, the company's move into more expensive, high-luxury bags is still showing positive results.
But it's interesting that LVMH would bring up Ghesquière, being that his designs won't be up for sale for another few months. Perhaps it's because, as we've learned, luxury brands' ready-to-wear lines often act largely as a marketing tool to promote things like handbags and cosmetics, and Ghesquière's debut has been buzzy, to say the least.