RECORD YEAR FOR LVMH GROUP
A BLOCKBUSTER 2017
French luxurygoods giant LVMH Moët Hennessy Louis Vuitton reported a record 2017 with net profit up 29 percent to 5.1 billion euros and annual revenues of 42.6 billion euros, a 13 percent jump compared to the previous year. The exponential growth comes from the group’s fashion and retailing divisions, led by star brand Louis Vuitton and by Dior, the number two house, also spurred by the acquisition of Christian Dior Couture last year.
Another brand that posted excellent results is Bulgari, followed by Fendi, while Loro Piana, Céline, Loewe and Kenzo registered a steady progress.
“LVMH achieved another record year. The excellent performance, to which all our businesses contributed, is due in part to the buoyant environment but above all to the remarkable creative strength of our brands and their ability to constantly reinvent themselves. In an environment that remains uncertain, we can count on the appeal of our brands and agility of our teams to strengthen, once again in 2018, our leadership in the universe of high quality products,” said Bernard Arnault, Chairman and Chief Executive Officer.
He touted Louis Vuitton as the top brand whose stellar performance and desirability is the fruit of a savvy balance between tradition and innovation and by the blockbuster collaborations with artist Jeff Koons and skateboard brand Supreme.
Arnault also painted a rosy future for Céline, where the arrival of Hedi Slimane this month, is expected to generate a bullish growth over the next five years, fueled by new product categories such as men’s wear, couture and fragrances.