LVMH FY boosted by Vuitton’s “strong momentum”
- Fashion and leather goods FY profit up 2% to EUR3.189bn
- Revenues rise 10% to EUR10.828bn
- Group share of net profit up 64% to EUR5.648bn
LVMH’s fashion and leather goods division saw its full-year profit and revenue rise
“Strong creative momentum” at Louis Vuitton helped LVMH’s fashion and leather goods division to post a double-digit revenue increase and slight incline in full-year profit.
The division’s growth helped the luxury goods giant to record full-year revenue figures of EUR30.6bn (US$34.93bn), up 6% on 2013, with group share of net profit soaring by 64%.
LVMH highlighted strong momentum in the US, resilience in Europe and a more mixed picture from Asian markets.
As well as another strong performance from Louis Vuitton, Fendi had shown good growth, while Celine had continued its “remarkable” performance, the company said.
Other fashion brands, such as Givenchy, Kenzo and Berluti, experienced accelerated growth, but Donna Karan and Marc Jacobs were said to be “in a redeployment phase”.
“The 2014 results confirm the capacity for LVMH to progress despite economic and currency uncertainty,” said chairman and CEO Bernard Arnault. “In 2014, all our Maisons demonstrated outstanding flexibility.
“By adapting their strategies to global changes and by continuing to evolve, they have shown the creativity and entrepreneurship that drive them forward.”
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Luxury goods group LVMH has created an internal carbon fund - already valued at over EUR5m (US$5.4m) - aimed at reducing the amount of energy consumed at its production sites and stores....
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