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2016 net sales at luxury fashion retailer LVMH rises 5%
Jan '17
For the twelve months ended December 31, 2016, net sales at retailer of luxury fashion and goods LVMH Group, rose 5 per cent to €37,600 million as against €35,664 million in the prior year, while organic revenue grew 6 per cent year over year. Of overall turnover, sales in the fashion and leather goods division increased to €12,775 million, up 3 per cent.

According to LVMH, it was able to deliver these results in 2016, in the face of geopolitical turbulence and economic and monetary uncertainty. The group delivered solid growth in the US and Europe; while growth resumed in Asia.

In the fashion and leather goods division, it tasted success with launch of new products in Louis Vuitton, while also seeing strengthening of other brands.

In Louis Vuitton, there was strong creative momentum in all areas and success was realised from restyled iconic models and recent creations. On the other hand, the Fendi brand recorded a strong revenue increase, surpassing the symbolic €1 billion mark, while a Loro Piana flagship store was opened in Paris.

The French group also said that sustained growth was witnessed in Kenzo, Loewe and Berluti and there was a continued repositioning of Marc Jacobs’ collection.

In 2016, LVMH acquired majority holding in Rimowa and also sold fashion brand Donna Karan to G-III Apparel Group. (AR)

Fibre2Fashion News Desk – India

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