FRANCE: LVMH H1 profit up 25% after revenue surge
- H1 net profit up 25% to EUR1.31bn
- Revenues up 13% to EUR10.3bn
- Fashion & Leather Goods revenues rise 13% to EUR3.97bn
LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury goods business, recorded a 25% surge in first half net profit, boosted by a double-digit revenue increase.
Fashion and leather goods contributed strongly to the performance, with sales rising 13% and profits up 17% in the period.
LVMH said all business groups and regions had contributed to the growth, adding that Louis Vuitton had continued to show strength, with a number of products now having waiting lists.
Fendi and Donna Karan had also continued “sustained growth” in their revenue and profit, LVMH added, with other fashion brands, and particularly Céline, enjoying “an excellent beginning of the year”.
“LVMH’s excellent performance in the first half, once again, demonstrates the exceptional appeal of our brands, the attraction of our high-quality artisanal products and the pertinence of our strategy,” said Bernard Arnault, chairman and CEO of LVMH.
“We approach the second half of the year with confidence and are relying upon the creativity and quality of our products, as well as the effectiveness of our teams, to pursue further market share gains in our historical markets, as well as in high-potential emerging markets.”
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