LVMH H1 Results Signal A Cautious Return of Luxury
Overall, the group?s half-year performance saw it achieved a 28 per cent growth amounting to ?36.7 billion.
The post LVMH H1 Results Signal A Cautious Return of Luxury appeared first on LUXUO.
Image: Louis Vuitton
The world?s largest conglomerate LVMH posted a strong H1 performance with a 28 per cent increase in revenue compared to the previous year. This growth amounted to ?36.7 billion, and the group reported that all its business groups achieved double-digit organic revenue growth over the period. Demands from Europe and the United States were attributed to the strong achievement of the group. At the same time, Asia (especially China) saw lower levels of growth due to the new health restrictions.
Breaking the results into quarters, one would notice that the group?s growth is slowing down. Compared to the Q1 results, the latest Q2 financial reporting only registered a 19 per cent increase compared to a 23 per cent growth for the former. The decreased growth is telling of the impact China has on the conglomerate. Despite growing demand from customers in Europe and the United States, it cannot offset the missing demand from its Chinese consumers.Â
READ MORE: LVMH?s Strategy in Asia is a Multi-Pronged Approach
Powering the group?s H1 performance is its mammoth fashion and leather unit, which recorded an organic revenue growth of 24 per cent. According to LVMH, its maisons? ?exceptional creativity? is key to its success. Louis Vuitton, its powerhouse, had exce...
The post LVMH H1 Results Signal A Cautious Return of Luxury appeared first on LUXUO.
Image: Louis Vuitton
The world?s largest conglomerate LVMH posted a strong H1 performance with a 28 per cent increase in revenue compared to the previous year. This growth amounted to ?36.7 billion, and the group reported that all its business groups achieved double-digit organic revenue growth over the period. Demands from Europe and the United States were attributed to the strong achievement of the group. At the same time, Asia (especially China) saw lower levels of growth due to the new health restrictions.
Breaking the results into quarters, one would notice that the group?s growth is slowing down. Compared to the Q1 results, the latest Q2 financial reporting only registered a 19 per cent increase compared to a 23 per cent growth for the former. The decreased growth is telling of the impact China has on the conglomerate. Despite growing demand from customers in Europe and the United States, it cannot offset the missing demand from its Chinese consumers.Â
READ MORE: LVMH?s Strategy in Asia is a Multi-Pronged Approach
Powering the group?s H1 performance is its mammoth fashion and leather unit, which recorded an organic revenue growth of 24 per cent. According to LVMH, its maisons? ?exceptional creativity? is key to its success. Louis Vuitton, its powerhouse, had exce...
-------------------------------- |
|
SpringVillas Provides Luxury Holiday Homes in Portugal?s Algarve
07-05-2024 04:04 - (
luxury )
Putrajaya Marriott Hotel Understands How to Deliver Luxury & VIP Services
07-05-2024 04:04 - (
luxury )