LVMH : Momentum holding up, estimates increased
>No break in momentum in fashion & leather despite a necessarily more complicated Q1 in Europe - For the sake of caution, we assumed a notable slowdown in overall momentum for fashion & leather in Q1 in our estimates (Q1 2021 growth vs Q1 2019 down to +8% after +18% reported in Q4 2020 vs Q4 2019 and +12% in Q3 2020 vs Q3 2019). The recent information provided by Brunello Cucinelli and more importantly Burberry suggested a more favourable underlying trend. We understa...LVMH Moet Hennessy Louis Vuitton is a manufacturer and retailer of luxury goods. Co. offers champagne and wines, cognac and spirits, fashion and leather goods, perfumes and cosmetics, watches and jewelery; and is engaged in selective retailing. Its operations are organized along five business segments: Wine and Spirits, Fashion and Leather Goods, Perfumes and Cosmetics, Watches and Jewelery, and Selective Retailing. Co. is also engaged in other activities (Media with Les Echos group, La Samaritaine and Luxury yacht with Royal Van Lent). Some of Co.'s brands are Moet & Chandon, Dom Perignon, Louis Vuitton, Fendi, Donna Karan, Parfums Christian Dior, Guerlain, Parfums Givenchy, and TAG Heuer.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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