LVMH 9-month Revenue Up 28%

Canned Water Brand Liquid Death Raises $70 Mln In Funding

According to reports, Liquid Death, a maker of branded water products in aluminium cans, has raised $70 million in Series D funding led by Science Ventures at a $700 million valuation. The fund raising is important as the Los Angeles-based company and its early investors were criticised during the launch of the brand.

The company has reported a $130 million revenue run-rate for 2022, which is up from $45 million in 2021 and is having its core product copied by legacy bottled water brands like Dasani.

Peter Pham of Science Ventures was of the opinion that around 40 percent of the company’s Amazon revenue now comes from flavored products, which was launched around six months ago, and that millions of dollars are through merchandise sales.

According to Science Ventures, it led the round via an SPV, given that its original check came out of a small seed fund, and that the goal was to prevent LP dilution.
Other investors include PowerPlant Partners, Convivialité Ventures, Hinge Capital, Access Capital, Live Nation and individuals like Whitney Cummings, Tom Segura and members of Swedish House Mafia.

How to Spend a Day in Red Hook

October can feel like the last hurrah for outdoor life. Make the most of it by eating along the Brooklyn waterfront.

Send any friend a story

As a subscriber, you have 10 gift articles to give each month. Anyone can read what you share.

By Becky Hughes

Tiny Love Stories: ‘The Most Beautiful Woman I Ever Saw’

Modern Love in miniature, featuring reader-submitted stories of no more than 100 words.

Send any friend a story

As a subscriber, you have 10 gift articles to give each month. Anyone can read what you share.

German Exports & Imports Rebound In August

Germany’s exports and imports rebounded in August with the increase in imports exceeding that of exports, data from Destatis showed on Wednesday.

Exports grew 1.6 percent on a monthly basis in August, offsetting a 1.6 percent fall in July. Economists had forecast shipments to climb 1.1 percent.

At the same time, growth in imports accelerated to 3.4 percent from 0.1 percent in the previous month. This was much faster than the expected 1.1 percent gain.

Consequently, the trade surplus fell unexpectedly to a seasonally adjusted EUR 1.2 billion from EUR 3.4 billion in the previous month. The surplus was forecast to improve to EUR 4.0 billion.

On a yearly basis, exports growth surged to 21.2 percent from 10.8 percent in July. Likewise, imports were up 35.7 percent, bigger than July’s 26.2 percent increase.

Germany’s exports to the U.S. advanced 12.0 percent and that to China moved up 2.9 percent.

Most imports came from China in August, which gained 2.2 percent. At the same time, the increase in imports from the U.S. was 5.3 percent.

Exports to the EU countries fell 0.8 percent on month, while imports from these countries rose by 2.5 percent. Similarly, shipments to eurozone countries slid 0.6 percent and 2.9 percent more goods were imported from these countries.

Data showed that exports to Russia grew 11.9 percent, while imports from Russia declined 6.7 percent.

Opinion | A Cruel Death in Hebron

Send any friend a story

As a subscriber, you have 10 gift articles to give each month. Anyone can read what you share.

By Bret Stephens

Opinion Columnist

Opinion | Kanye Shows Where the Right’s Troll Politics Lead

Send any friend a story

As a subscriber, you have 10 gift articles to give each month. Anyone can read what you share.

By Michelle Goldberg

Opinion Columnist

Fire breaks out at oil and gas site in Adams County.

A fire has broken out at an oil and gas site in Adams County.

The fire is at a site near East 160th Avenue and Quebec Street, according to North Metro Fire Rescue.

Firefighters said the fire is contained and there is no public threat.

This story will be updated.

Sheryl Salzbrenner arrested in Westminster shooting death

Westminster police arrested a suspect in a woman’s shooting death.

At about 10:30 a.m. Friday, police responded to the 8300 block of Church Ranch Boulevard on a shooting. Officers found a dead woman at the scene and opened a homicide investigation.

A suspect, who is known to the victim, was identified and an arrest was made on Saturday afternoon, police said in a Tuesday news release.

Sheryl Salzbrenner is being held at the Jefferson County Jail on investigation of first-degree murder, police said. The victim will be identified by the Jefferson County Coroner’s Office.

LVMH 9-month Revenue Up 28%

LVMH Moët Hennessy Louis Vuitton, (LVMHF.PK,LVMUY.PK), a maker of luxury goods, reported revenue of 56.5 billion euros in the first nine months of 2022, up 28% compared to the same period of 2021. Organic revenue growth was 20%. In the third quarter, organic revenue growth was 19%.

The company’s Wines & Spirits segment reported revenue growth of 23% over the first nine months of 2022. The Fashion & Leather Goods segment reported revenue growth of 31% in the first nine months of 2022. The Perfumes & Cosmetics business reported revenue growth of 19% for the period. Watches & Jewelry business group’s revenue growth was 23% in the first nine months of 2022.

LVMH said it is confident in the continuation of current growth and will maintain a policy of cost control and selective investment.