Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

LVMH delivers “remarkable” year

French luxury goods group LVMH delivered a “remarkable” year as profits soared and sales shot up by 19%.

Sales at the group, which is the parent company of brands including Bulgari, Louis Vuitton and Celine, rose 19% in 2012 to €28.1bn (£24.3bn). The company said it saw “excellent momentum” across Europe, Asia and the US as LVMH’s net profit rose 12% €3.42bn (£2.96bn).

The group’s fashion and leather goods arm recorded organic revenue growth of 7% over the year as profits grew by 6%. Designer label Louis Vuitton delivered double digit revenue growth while handbag brand Baguette had a record year.

Chairman and chief executive Bernard Arnault said: “2012 was another remarkable year for LVMH, especially in the context of the economic slowdown in Europe. All of our businesses demonstrated excellent momentum driven by innovation and the quality of their products, thereby strengthening their positions in traditional markets while continuing to develop in new ones.”

He added: “Looking beyond the appeal of our brands, it is the talent of our teams and their motivation that enables us to so effectively execute our strategy. In 2013, LVMH intends to further strengthen its global leadership position in high quality products by relying on its sound, long-term strategy.”

Readers' comments (2)

  • Not quite sure what to make of Drapers research:

    "LVMH’s net profit rose 12% €3.42m (£2.96m)."

    Pretty sure that is a low net profit for a company which turned over €28.1bn (£24.3bn).

    Unsuitable or offensive? Report this comment

  • Good spot. Should be billion and not bilion. Now changed.
    Thanks

    Unsuitable or offensive? Report this comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.