LVMH sees first half profits soar 20 percentFriday, 27 July 2012
LVMH Louis Vuitton Moet Hennessy recorded revenue of 13 billion Euros in the first half 2012, an increase of 26 percent. The luxury group giant stated profit from recurring operations for the first half of 2012 rose to 2 659 million Euros, an increase of
20 percent compared to the same period in 2011. This performance compares to the first half of 2011, which itself had shown strong growth.
Bernard Arnault, Chairman and CEO of LVMH, commented: “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. A host of initiatives, including constant innovation, successful iconic product lines, the development of our craftsmanship and targeted expansion, reinforce our Maisons. 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. ”
LVMH's fashion & leather goods divisions recorded growth of 10 percent in the first half of 2012. Profit from recurring operations increased by 10 percent. Louis Vuitton continued to register exceptional performance, confirming the brand’s strong appeal to its global clientele, with a number of products have waiting lists.
The opening of the Maison Louis Vuitton in Rome was a highlight of the first half. Louis Vuitton is always driven by its incomparable creative capacity, and by the fact that it is the only luxury brand in the world to sell its products exclusively through its own store network. Fendi benefited from the sustained growth of the iconic Baguette bag, which celebrated its fifteenth birthday.
Céline recorded a remarkable performance driven by its creative success, the company stated. Growth markets continued in Asia and the US.