Vuitton to hire 700 leather workers in 2011
Louis Vuitton, the fashion and leather accessories brand owned by LVMH Moet Hennessy Louis Vuitton SA, may hire as many as 700 leather workers this year to cope with rising demand, an unnamed source has told Bloomberg News.
Additions will be made at factories in France, where about 70% of Vuitton’s leathergoods are produced, as well as in Spain and California, said the person, who asked not to be named because the matter is private. More increases may follow next year, according to the person.
Vuitton, which added 320 craftsmen last year, will open a factory in Marsaz, France, in March 2011 after inventory shortages led the Paris-based company to shutter 13 stores an hour early in the run up to Christmas. The firm employs 4,000 to 5,000 leather workers, according to an estimate by Sanford C Bernstein analyst, Luca Solca.
LVMH intends to increase Vuitton’s production capacity “slowly, but surely” as demand outstrips supply, chairman and chief executive Bernard Arnault said recently.
Revenue at LVMH’s fashion and leathergoods unit increased by 13% to EUR7.58 billion in 2010, excluding acquisitions and currency shifts.
