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LVMH records €30.6 billion revenue in 2014
04
Feb '15
The world’s leading luxury products group—LVMH Moët Hennessy Louis Vuitton, has recorded revenue of €30.6 billion in 2014, registering an increase of 6 per cent over the previous year.
 
The group’s revenue in almost all business groups, including fashion and leather goods, increased during the year. While the group maintained strong momentum in the United States, Europe demonstrated good resilience despite the economic environment. However, Asian countries displayed mixed trends.
 
The fashion and leather goods business group recorded organic revenue growth of 3 per cent in 2014 compared to organic revenue growth of 5 per cent for the whole LVMH group. Profit from recurring operations reached €3.189 billion.
 
For Louis Vuitton, 2014 was characterised by strong creative momentum, dominated by the enthusiastic reception of Nicolas Ghesquière’s first runway shows and of the new products.
 
The celebration of the Monogram canvas as revisited by six leading designers and the inauguration of the Avenue Montaigne flagship store in Paris were among the highlights of the last quarter. 
 
2014 marked the first year of Loro Piana’s integration into the business group. Fendi experienced strong growth driven by the success of its iconic lines. Celine continued its remarkable performance. Other fashion brands such as Givenchy, Kenzo and Berluti experienced accelerated growth while Donna Karan and Marc Jacobs are in a redeployment phase, LVMH said.
 
“The 2014 results confirm the capacity for LVMH to progress despite economic and currency uncertainty. Revenue and net profit reached new record levels,” said Bernard Arnault, chairman and CEO of LVMH.
 
Key highlights from 2014 include a major increase in the net profit. Profit from recurring operations reached €5.715 billion, resulting in an operating margin of 19 per cent. Group share of net profit was €5.648 billion.
 
The fashion and leather goods business saw major success of new products at Louis Vuitton and successful investments in other brands. However, the segment was principally impacted by large negative exchange rate effect.
 
For 2015, LVMH group will maintain a strategy focused on developing its brands by continuing to build on strong innovation and a constant quest for quality in their products and their distribution. (RKS)
 

Fibre2fashion News Desk - India


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