Technology

LVMH reports a 56% first half earnings spike

Moe Hennessy Louis Vuitton (LVMH) Reported revenues of € 27.7 billion (£ 23.7 billion), up 56% year-on-year in the first half of 2009.

High-end retailers’ intrinsic revenues also increased 56% compared to the first half of 2008 and 11% compared to pre-pandemic 2019 levels.

Ordinary profit increased 44% from the first half of FY2007, quadrupled from last year.

Bernard ArnaultThe company’s chairman and CEO said:

“The highlights of the first half include the integration of the Maison Tiffany and the launch of La Samaritain after an ambitious refurbishment program.”

Breaking down the Group’s revenues, the fashion and leather goods business generated the largest revenues of € 13.9 million (£ 11.9 billion), up 74% year-on-year.

Selective retail revenue increased 5% during this period, wine and spirits increased 36%, and perfumes and cosmetics increased 31%.

The Group’s watch and jewelery business grew from € 1.3 billion (£ 1.1 billion) to € 4 billion (£ 3.4 billion), with the largest increase in revenue during the period.

Arnaud said: “In the current situation, as we exit the health crisis and see a recovery in the global economy, I think LVMH is in a great position to continue to grow and further strengthen its lead in the global luxury market in 2021. “

https://www.retailsector.co.uk/619583-lvmh-reports-56-h1-revenue-spike/ LVMH reports a 56% first half earnings spike

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