FRANCE: Louis Vuitton reports another year of record sales
- LVMH group net profit grew 13% to EUR5.9bn
- Revenue rose 19% to EUR28.1bn
- Fashion and leather goods profit up 6% to EUR3.2bn
- Sales grew 14% to EUR9.9bn
LVMH Moet Hennessey Louis Vuitton saw full year profit rise as the Louis Vuitton brand reported another record year of sales.
The company said today (31 January) that net profit grew 13% during 2012 to EUR5.9bn, as its fashion and leather goods unit recorded 6% profit growth to reach EUR3.2bn.
Total revenue grew 19% on a reported basis to reach EUR28.1bn, and 9% on an organic basis. The group's fashion and leather goods division saw sales grow 14% to EUR9.9bn.
The company said that Louis Vuitton recorded double-digit revenue growth, as well as an "exceptional level of profitability."
The company said Celine also recorded an "excellent" performance in all of its products and in all geographic areas, while the performance of the other fashion brands, which include Givenchy, Marc Jacobs, and Donna Karan "continued to improve".
Despite an "uncertain" economic environment in Europe, LVMH said it is well equipped to continue its growth momentum across all business groups in 2013.
T-shirt and underwear manufacturer Hanesbrands is to acquire rival intimate apparel maker Maidenform Brands for US$575m, as it looks to drive growth and create increased scale to serve retailers....
Italian luxury brand Loro Piana is to sell a majority stake in the business to Moët Hennessy Louis Vuitton LVMH....
Moët Hennessy Louis Vuitton LVMH has been fined EUR8m by France's stock market regulator for failing to disclose its stake building in luxury rival Hermes before 2010. ...
Luxury goods powerhouse LVMH Moët Hennessy Louis Vuitton has appointed Delphine Arnault as executive vice president of its Louis Vuitton brand....
French luxury goods firm Hermès has filed fresh legal action against rival LVMH....
In the immediate future, market growth of the fashion and apparel industry is anything but transparent, with conflicting economic forecasts and regional fluctuations....
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