Home » Fashion, wine and jewelry push Lvmh; double-digit growth and a bright future for the luxury giant

Fashion, wine and jewelry push Lvmh; double-digit growth and a bright future for the luxury giant

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LVMH, or Louis Vuitton Moet Hennessy, world leader in luxury products, closes the first nine months of 2021 with a turnover of 44.2 billion euros, up 46% compared to the same period in 2020, of which almost half arrive from Dior clothes, Vuitton bags and Fendi shoes. Organic growth stood at 40%, and also takes into account Tiffany, which entered the group’s perimeter at the end of 2020.

The purchase of the US brand almost tripled the jewelry division, which also includes Bulgari, which went from 2.26 billion on 30 September 2020 to 6.1 billion (+ 49% on an organic basis and + 4% compared to the period before the Pandemic). The perfume and cosmetics sector, on the other hand, recorded organic revenue growth of 30% in the first nine months of 2021, to 4.668 billion, compared to the same period of 2020.

But the giant headed by Bernard Arnault cancels the pandemic effect, given that in the nine months the organic growth of LVMH compared to 2019 was 11%, with a trend in the third quarter (+ 11%) similar to that of the first half, both by geographical area and by activity, and in anticipation of an even better fourth quarter, given that in the last part of the year the turnover of the group is driven by gifts.

The fashion and leather goods division in the third quarter boasted record sales of 21.3 billion (+ 53% on 2020), with organic growth of 38% on 2019, identical to that of the first six months, specifies the note of the group, noting that the rise in revenues in Asia and the United States was double-digit. Also noteworthy is the excellent performance for the wine and spirits division which recorded an increase in turnover of 27% (+ 30% organic) to 4.2 billion. Also in this case, the Covid crisis has been filed: compared to 2019 the growth was 10%.

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“LVMH is confident in the continuation of the current growth; it will maintain a strategy focused on the continuous strengthening of the desirability of its brands – explains the group in a note – relying on the authenticity and quality of its products, on the excellence of their distribution and on the responsiveness of its organization. LVMH is counting on the dynamic nature of its brands and the talent of its teams to further strengthen its global leadership position in luxury goods once again in 2021 “.

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