LVMH Moet Hennessy Louis Vuitton sees profits rise across the board

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LVMH

The parent company of luxury retailers Louis Vuitton, Dior, Bulgari and Marc Jacobs has revealed “an excellent first half” as it grew across all geographical areas.

LVMH, otherwise known as LVMH Moet Hennessy Louis Vuitton, posted a revenue rise of 15 per cent to £17.55 billion, with organic revenue growth of 12 per cent in the first half of 2017.

Profit from recurring operations also shot up 23 per cent to £3.21 billion.

Net financial debt dropped 25 per cent to £3.47 billion.

The Paris-based, global retail empire represents a vast array of luxury brands and retailers, covering luxury fashion, watches, accessories, perfume, jewellery and top-shelf alcohol.

Other brands under its umbrella include: Sephora, Fendi, Givenchy, Kenzo, Thomas Pink, Tag Heuer, and dozens more.

READ MORE: Christian Dior now fully owned by LVMH

LVMH’s fashion and leather goods category was its strongest performer, seeing revenues increase 17 per cent while profits jumped 34 per cent.

According to the company, this was largely driven by Louis Vuitton’s introduction of new models and a collaboration with skateboarding brand Supreme.

Rimowa also joined the group and was incorporated into the results for the first time.

Elsewhere, revenues and profits in its watches and jewellery category both rose by 14 per cent, while perfume and cosmetics saw a 14 and seven per cent rise in revenues and profits respectively.

“LVMH has enjoyed an excellent first half, to which all our businesses contributed,” chairman and chief executive Bernard Arnault said.

“In the current climate of geopolitical and economic instability, creativity and quality, the founding values of our group, have more than ever become benchmarks for all.

“The increasing digitalization of our activities furthermore reinforces the quality of the experience we bring to our customers. In an environment that remains uncertain, we approach the second half of the year with caution.”

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