Home / Knowledge / News / Fashion / H1 is successful for LVMH Perfumes & Cosmetics
H1 is successful for LVMH Perfumes & Cosmetics
31
Jul '08
LVMH Moët Hennessy Louis Vuitton, the world's leading luxury products group, recorded revenues of €7.8 billion in the first half of 2008, reflecting organic growth of 12%.

The Group had excellent performances in Asia, the United States and Europe. Profit from recurring operations increased by 7% to €1,541 million.

The current operating margin improved to 20%. This performance was achieved in an unfavourable currency environment and is even more noteworthy given the strong growth in the first half of 2007.

At constant exchange rates, profit from recurring operations increased by 19%. Group share of net profit increased by 7% in the first half of 2008.

Bernard Arnault, Chairman and CEO of LVMH, commented: “The first half results once again demonstrate the exceptional appeal of our brands as well as the effectiveness of our strategy, particularly remarkable given the adverse currency and economic environment seen during this period.

LVMH thus proves its exceptional capacity to grow thanks to the strength of its brands, the responsiveness of its organization and the talent of its teams.

Reassured by the strong momentum in the first half of the year, the Group approaches the second half with confidence.

It will rely upon the creativity and quality of its products as well as the efficiency of its teams to pursue further development in its historical markets as well as in high potential emerging markets.

All these elements enable us to confirm our objective of a tangible increase in results for 2008.”

Wines & Spirits: acceleration of growth in the second quarter
After a first quarter impacted by an unfavorable timing of price increases compared to 2007, Wines & Spirits revenue accelerated to achieve organic growth of 13% in the second quarter.

The overall market trends in Europe are positive. Emerging markets, such as Russia, China and the Middle East, recorded sustained growth. The Champagne business was driven by the good performance of Veuve Clicquot Ponsardin and Moët & Chandon.

Ruinart also saw strong growth. New World wines registered good progress. Hennessy cognac revenue was boosted by the remarkable performance of its premium qualities in China and Russia.

Fashion & Leather Goods: continued exceptional momentum at Louis Vuitton Fashion & Leather Goods delivered organic revenue growth of 14%.

Profit from recurring operations rose to €858 million. Once again delivering double-digit organic revenue growth, Louis Vuitton continues to strengthen its market position and deliver exceptional profitability.

The brand continues to be driven by its incomparable capacity to innovate, illustrated notably by the launch of numerous timeless lines and by the creations of Marc Jacobs in conjunction with the artist Richard Prince, which enjoy a worldwide success with clients.

Fendi continued the excellent trend experienced in 2007. The other fashion brands, notably Marc Jacobs, Donna Karan, Kenzo, Pucci and Loewe have had favorable trends.


Must ReadView All

NRF urges US Congress to step in, stop trade war

Apparel/Garments | On 21st Jun 2018

NRF urges US Congress to step in, stop trade war

The National Retail Federation (NRF) recently urged the US Congress...

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

Courtesy: Tintex

Textiles | On 21st Jun 2018

'Price ratio is key factor for knitted fabrics market'

The price ratio is a key factor for the global knitted fabrics market ...

Interviews View All

Top executives
Textile industry

GST has levelled the playing field to an extent

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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