Financial success continues at a speedy tempo for Louis Vuitton Moet Hennessey (LVMH), the guardian firm of Louis Vuitton, Dior, and lots of extra. LVMH as an entire improved revenues 11% for the primary 9 months of 2021 as in comparison with the identical interval of 2019. Needless to say, the 12 months over 12 months 2020/2021 comparability was way more excessive, evidencing the devastating monetary impact of the pandemic in the course of the first half of 2020.
The actual winner, nevertheless, is LVMH’s largest group – Fashion & Leather Goods. As we’ve written many occasions, customers need their purses and ready-to-wear, pandemic be damned. In truth, regardless of an enormous drop in (and, certainly, incapacity to) journey and store internationally, revenues for this group proceed to rise.
Specifically, the primary 9 months of 2021 confirmed 38% income progress over 2019 (57% over 2020), which is constant over the 12 months. Growth in Q1, Q2, and Q3, respectively was up 37%, 40%, and 38%, as in comparison with the identical quarters of 2019.
Geographically, Asia (not together with Japan) and the Americas stay the largest drivers of progress. LVMH Q3 revenues in Asia rose 29% and the Americas 23% as in comparison with 2019. Europe continues to be a drag on the financials.
With restricted journey, these luxurious customers clearly are purchasing at house. And, regardless of maybe premonitions on the contrary, Louis Vuitton can discover success at house. Or no less than with buyers at house. Even if house isn’t France.