LVMH, the luxury goods group that owns Louis Vuitton and Marc Jacobs, saw total sales rise by 4% to €17.2 billion (£15bn) in 2008, with an “outstanding performance” by Louis Vuitton.
Fashion and leather goods sales at LVMH, which also owns the Fendi and Donna Karan labels, rose 10% on an organic basis in 2008 to €6bn (£5.2bn), with profit from recurring operations rising by 5% to €1.9bn (£1.6bn) during the period.
Louis Vuitton saw double-digit organic revenue growth in 2008, together with “exceptional profitability”. Fendi “performed well”, while Marc Jacobs and Donna Karan “proved resilient in a difficult environment”.
Total profit from recurring operations rose 2% to €3.6bn (£3.1bn) at LVMH, while reported revenue in the fourth quarter rose by 4% to €5.2bn (£4.5bn).
Bernard Arnault, chairman and chief executive of LVMH, said: “The 2008 results demonstrate the exceptional reactivity of our organisation in this period of economic crisis. The group has always emerged stronger from previous economic downturns thanks to the dynamic innovation of its brands, the quality of its products and the effectiveness of its teams.”
He added: “LVMH approaches the challenges and the opportunities of 2009 with confidence and determination
and has set the objective of increasing its leadership position in the worldwide luxury goods sector.”