LVMH Doubles Profit in 2021, Remains The Leader of Luxury Goods
The French luxury conglomerate reaped a net profit of ?17.15 billion in 2021, driven by top brands like Louis Vuitton, Dior and Tiffany & Co.
The post LVMH Doubles Profit in 2021, Remains The Leader of Luxury Goods appeared first on LUXUO.
Image: Louis Vuitton
French luxury conglomerate LVMH Moët Hennessy Louis Vuitton has had an outstanding 2021 with growth exceeding expectations. The owner of Louis Vuitton, Dior, Bvlgari and TAG Heuer recorded revenue of ?64.2 billion last year. This represents a 44 per cent increase when compared to 2020 and up 20 per cent when benchmarked against 2021.
The company?s profit doubled year-on-year to ?17.15 billion, which is a staggering 107 per cent jump compared to 2020 and a 49 per cent increase when compared to 2019. ?The performance for the year confirms a return to strong growth momentum following the severe disruption to the first half of 2020 resulting from the global pandemic,? LVMH said in a statement.
Image: Louis Vuitton
READ MORE: Louis Vuitton x Nike ?Air Force 1? by Virgil Abloh Debuts On Sotheby?s
Growth at the world?s largest luxury company continues to be driven by its iconic brands from the Fashion & Leather Goods business unit. It recorded organic revenue growth of 47 per cent in 2021 compared to 2020 and 42 per cent compared to 2019. Profit from recurring operations was up by 79 per cent compared to 2020 and 45 per cent compared to 2019.
Leading the charge are the brands Louis Vuitton and Dior...
The post LVMH Doubles Profit in 2021, Remains The Leader of Luxury Goods appeared first on LUXUO.
Image: Louis Vuitton
French luxury conglomerate LVMH Moët Hennessy Louis Vuitton has had an outstanding 2021 with growth exceeding expectations. The owner of Louis Vuitton, Dior, Bvlgari and TAG Heuer recorded revenue of ?64.2 billion last year. This represents a 44 per cent increase when compared to 2020 and up 20 per cent when benchmarked against 2021.
The company?s profit doubled year-on-year to ?17.15 billion, which is a staggering 107 per cent jump compared to 2020 and a 49 per cent increase when compared to 2019. ?The performance for the year confirms a return to strong growth momentum following the severe disruption to the first half of 2020 resulting from the global pandemic,? LVMH said in a statement.
Image: Louis Vuitton
READ MORE: Louis Vuitton x Nike ?Air Force 1? by Virgil Abloh Debuts On Sotheby?s
Growth at the world?s largest luxury company continues to be driven by its iconic brands from the Fashion & Leather Goods business unit. It recorded organic revenue growth of 47 per cent in 2021 compared to 2020 and 42 per cent compared to 2019. Profit from recurring operations was up by 79 per cent compared to 2020 and 45 per cent compared to 2019.
Leading the charge are the brands Louis Vuitton and Dior...
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