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LVMH posts 13% organic growth in Fashion & Leather
29
Jan '18
Courtesy: LVMH
Courtesy: LVMH
LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, has achieved organic revenue growth of 13 per cent in its fashion and leather business for 2017. On a reported basis, revenue growth was up 21 per cent and profit from recurring operations increased by 27 per cent. The group's revenue rose by 13 per cent over the previous year.

In 2017, the group's profit from recurring operations reached €8,293 million, an increase of 18 per cent. Operating margin reached 19.5 per cent. Its share of net profit was €5,129 million, representing growth of 29 per cent.

Louis Vuitton continues to demonstrate outstanding creativity across all of its businesses, maintaining a good balance between innovations and the strengthening of its iconic product lines. New products arising from the collaborations with the artist Jeff Koons as well as the Supreme brand, the launch of the brand’s first smart watch and the inauguration of the Maison Louis Vuitton Vendôme in Paris were among the key events of 2017.

"LVMH achieved another record year. The excellent performance, to which all our businesses contributed, is due in part to the buoyant environment but above all to the remarkable creative strength of our brands and their ability to constantly reinvent themselves. Continued innovation, entrepreneurial spirit and the quest for excellence: all Maisons continue to assert these core values while maintaining rigorous execution of their strategies on the ground. In an environment that remains uncertain, we can count on the appeal of our brands and the agility of our teams to strengthen, once again in 2018, our leadership in the universe of high quality products," Bernard Arnault, chairman and CEO of LVMH, said.

"In an environment that remains supportive at the beginning of the year and despite unfavorable currencies and geopolitical uncertainties, LVMH is well-equipped to continue its growth momentum across all business groups in 2018. The group will maintain a strategy focused on developing its brands by continuing to build on strong innovation and investments as well as a constant quest for quality in their products and their distribution," LVMH said in a press release.

Driven by the agility of its teams, their entrepreneurial spirit, the balance of its different businesses and geographic diversity, LVMH has entered 2018 with cautious confidence, and once again, setting an objective of increasing its global leadership position in luxury goods. (RR)

Fibre2Fashion News Desk – India


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