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LVMH reports continued growth

Oct 18, 2021 France
LVMH reports continued growth
In the first 9 months of 2021, the French-based luxury group had revenue of 44.2 billion euros, up by 46% year-over-year. The Fashion & Leather Goods segment registered exceptional growth
Overall, LVMH group’s revenue increased by 46% to 44.2 billion euros in the first nine months of 2021, as compared to the same period last year. Organic revenue grew by 40% during this period, on a comparable basis to 2020, and by 11%, as compared to similar period in 2019, with trends in the third quarter comparable to those of the first half, both by activity and by region. The United States and Asia continued to register double-digit growth.

Fashion & Leather Goods

In the first nine months of 2021, this business segment recorded organic revenue growth of 57%, as compared to the same period of 2020, and of 38% on a comparable basis to 2019. On a reported basis, sales for the division increased by 53% to 21.32 billion euros.

As reported by the group, Louis Vuitton “performed remarkably well”, driven by “permanent innovation and by the quality of its products”, and Christian Dior exhibited “exceptional momentum”. The latest fashion shows in Athens and Paris had an outstanding reception and, following its success in Paris, London and Shanghai, the Christian Dior, Designer of Dreams exhibition opened in New York. Fendi, Celine, Loewe and Marc Jacobs also performed well.

Outlook

The group has shown confidence in the current growth trajectory within the context of a gradual exit from the health crisis. Therefore, “it will maintain a strategy focused on continuously strengthening the desirability of its brands, by relying on the authenticity and quality of its products, the excellence of their distribution and the reactivity 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”.

Image credits: www.myfacehunter.com

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