LVMH Achieves Stunning Growth for the First Half of 2021
The French conglomerate outperformed forecasts that were set for the Group and continues to seize market share.
The post LVMH Achieves Stunning Growth for the First Half of 2021 appeared first on LUXUO.
Bvlgari recently unveiled their latest High Jewellery collection, Magnifica. Image: Bvlgari
The world?s largest luxury group, LVMH Moët Hennessy Louis Vuitton exceeded expectations to achieve record growth for the first half of 2021.
Across the board, the conglomerate?s organic revenue grew by 53 per cent compared to 2020 and 11 per cent compared to 2019. The revenue for the company for the past six months stood at ?28.7 billion.
The stellar achievement of the company was attributed to the surging sales figures during the second quarter of 2021. LVMH mentioned in a press release of its performance that, ?This performance reflects accelerated growth in the second quarter of 2021, which saw organic revenue increase by 14% compared to 8% in the first quarter.? With this, the company is steadily growing its market share and edging out some of its competitors such as Kering Group, Chanel and Richemont.
A still from Louis Vuitton Menswear SS21 presentation. Image: Louis Vuitton
As the economy begins to restart again, more consumers are willing to spend luxuriantly on designer clothes and accessories. This coupled with pent up demand from the travel restrictions has fuelled the growing sales figures. In particular, LVMH?s fashion and leather goods division repor...
The post LVMH Achieves Stunning Growth for the First Half of 2021 appeared first on LUXUO.
Bvlgari recently unveiled their latest High Jewellery collection, Magnifica. Image: Bvlgari
The world?s largest luxury group, LVMH Moët Hennessy Louis Vuitton exceeded expectations to achieve record growth for the first half of 2021.
Across the board, the conglomerate?s organic revenue grew by 53 per cent compared to 2020 and 11 per cent compared to 2019. The revenue for the company for the past six months stood at ?28.7 billion.
The stellar achievement of the company was attributed to the surging sales figures during the second quarter of 2021. LVMH mentioned in a press release of its performance that, ?This performance reflects accelerated growth in the second quarter of 2021, which saw organic revenue increase by 14% compared to 8% in the first quarter.? With this, the company is steadily growing its market share and edging out some of its competitors such as Kering Group, Chanel and Richemont.
A still from Louis Vuitton Menswear SS21 presentation. Image: Louis Vuitton
As the economy begins to restart again, more consumers are willing to spend luxuriantly on designer clothes and accessories. This coupled with pent up demand from the travel restrictions has fuelled the growing sales figures. In particular, LVMH?s fashion and leather goods division repor...
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