LVMH's beauty department sales fell 18% in the first quarter, Sephora fell 25%

The factory is closed and offline stores are closed ... Due to the continued impact of the global epidemic, this year's retail industry sales have fallen sharply, which seems to be an indisputable fact.

 
Among the high-end cosmetic giants affected by the epidemic, it owns many mid-to-high-end brands such as Dior, Givenchy, Guerlain, Fresh, MAKE UP FOREVER, and SEPHORA (Sephora) LVMH Group is undoubtedly the most concerned.

 
A few days ago, LVMH Group released its latest financial report. In the first quarter ended March 31, LVMH Group's overall sales fell by 15% year-on-year to 10.6 billion euros (approximately RMB 81.155 billion). Among them, sales in the perfume and cosmetics sector fell 18% to 1.382 billion euros (about 10.581 billion yuan), and the boutique retail division where SEPHORA Sephora is located plunged 25% to 2.626 billion euros (about 20.105 billion yuan).

Earlier (March 27), when the LVMH Group released the management report of the board of directors, it discussed the impact of the new crown epidemic on the performance of the group. -20% "estimate. Now, the revenue situation is still in control.

 
LVMH emphasized in the financial report that the decline in performance was mainly affected by the offline business shutdown caused by the epidemic, but the group has sufficient strength to deal with the crisis, and is currently using its factories to actively produce anti-epidemic materials such as masks, hand sanitizers and protective clothing and provide them free To relevant institutions and medical staff in need, and purchased 40 million masks and 261 ventilators from China.

 
It is reported that from March 15th, LVMH has changed its three perfume production lines of Dior, Givenchy and Guerlain to the production of hand sanitizer and other disinfection products, and all the disinfection products produced are provided to France for free without label Health institutions and major hospital systems in Europe.

Even as the "biggest loser" of the epidemic, with a loss of nearly 200 billion yuan in value, CEO Bernard Arnault still holds a positive attitude towards the future. He is optimistic that in the face of this unprecedented dilemma, LVMH still maintains good resilience, and once again proves that creativity and brand power are the root of the company. I believe that after the crisis, the group will become stronger.