LVMH’s turnover has grown 15 per cent the previous year. Louis Vuitton is the premium marque of luxury in the world. On an organic basis, sales rose by 10 per cent. However, harmed in part by events in Hong Kong, sales in the final quarter grew 12 per cent. Profit from recurring items also grew 15 per cent while the operating margin reached 21.4 per cent. And group share of net profit was up 13 per cent. LVMHʼs key sector, fashion and leather goods, scored a 20 per cent advance in sales, over one third of LVMH’s turnover, and three times the size of perfumes and cosmetics. The luxury conglomerate’s second largest division is selective retailing. Other divisions are wines and spirits and watches and jewelry.
LVMH had another record year, both in terms of revenues and results. The desirability of its brands, and the creativity and quality of its products, the unique experience offered its customers, and the talent and commitment of its teams are the group’s strength and once again made the difference.
In November 2019, LVMH took over Tiffany, the US jeweler famed for its engagement rings and white diamond necklaces. The all-cash deal marked the biggest-ever takeover for LVMH.
