Home / Knowledge / News / Fashion / Fashion business records 14% organic growth at LVMH
Fashion business records 14% organic growth at LVMH
27
Jul '17
Courtesy: Louis Vuitton
Courtesy: Louis Vuitton
The Fashion & Leather Goods business group recorded organic revenue growth of 14 per cent in the first half of 2017 at LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group. On a reported basis, revenue rose 17 per cent and profit from recurring operations was up 34 per cent. The Group’s revenue increased 15 per cent to €19.7 billion.

The momentum at Louis Vuitton’s Fashion & Leather Goods business, driven by its exceptional creativity, was demonstrated across all its product categories. The Cruise Collection presented at the Miho Museum in Kyoto, Japan, was a great illustration of this. The launch of new models resulting from the collaboration with the artist Jeff Koons and the cult New York skatewear brand, Supreme, were the highlights of the first half, LVMH said.

Fendi continued its strong growth and enriched its leather goods lines, the company said. Loro Piana strengthened its presence in Asia with several openings. Céline, Loewe and Kenzo experienced good growth. Marc Jacobs strengthened its product offering and continued its restructuring. Other brands continued to grow. Rimowa, which joined the LVMH Group, is consolidated for the first time in the first half-year accounts.

Organic revenue growth for LVMH Group was 12 per cent compared to the same period in 2016. During the first half of the year, the Group benefited from a favourable comparison base, particularly in Asia but also in France, where activity was impacted last year by a decline in tourism.

Profit from recurring operations was €3.640 billion for the first half of 2017, an increase of 23 per cent. Operating margin reached 18.5 per cent, an increase of 1 percentage point. Group share of net profit amounted to € 2.119 billion, an increase of 24 per cent.

Commenting on the results, Bernard Arnault, chairman and CEO of LVMH, said, “LVMH has enjoyed an excellent first half, to which all our businesses contributed. In the current climate of geopolitical and economic instability, creativity and quality, the founding values of our Group, have more than ever become benchmarks for all. The increasing digitalisation of our activities furthermore reinforces the quality of the experience we bring to our customers.”

“In an environment that remains uncertain, we approach the second half of the year with caution. We will remain vigilant and rely on the entrepreneurial spirit and talent of our teams to further increase our leadership in the world of high quality products in 2017,” Arnault added. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

India to be largest cotton producer in 2018-19: USDA

Textiles | On 22nd Jun 2018

India to be largest cotton producer in 2018-19: USDA

For the fourth consecutive season, India is expected to be the...

Organic Basics gets Polygiene help for advanced underwear

Apparel/Garments | On 22nd Jun 2018

Organic Basics gets Polygiene help for advanced underwear

Danish firm Organic Basics is working with Swedish company Polygiene, ...

Courtesy: Pexels

Textiles | On 22nd Jun 2018

Pakistan's textile exports up 9.82% in July-May FY18

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search