COVID-19 Impact on LVMH Moet Hennessy Louis Vuitton
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"Coronavirus (COVID-19) Company Impact: LVMH Moet Hennessy Louis Vuitton" reports key findings as of May 27, 2020 based on market analysis and brand diversification by industry and geography.
Significant sales losses in LVMH's cosmetics and toiletries business due to COVID-19 outbreak are inevitable, and the outlook of the recovery in 2020 is not favorable for the company. However, LVMH has pivoted to address urgent public health needs by supplying masks and sanitizers, and making monetary donations to hospitals, which will increase brand affinity among consumers. Cost reductions and strategic investments will be key exercises for the recovery. A strong retail presence across continents may work as a strength when lockdown measures are relaxed. Potentially, LVMH can concentrate on e-commerce sales by partnering with online players and expanding its product portfolio with new launches and styles.
Scope
– Consumers are staying indoors and avoiding social gatherings, harming the consumption and sales of the fragrances and make-up categories.
– LVMH's key cosmetics and toiletries markets are exposed to COVID-19, but there is a glimmer of home due to its geographic advantage.
– Concentrating on online channels for products sales will help the company to overcome the losses caused by COVID-19.
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