Louis Vuitton releases 2019 annual report
LVMH, parent company to luxury brands such as Christian Dior, Fendi and Louis Vuitton, has released its 2019 annual report. The full-colour interactive 142-page online document provides an in-depth look at the company which comprises 75 brands, 53.7 billion euros revenue and a retail network of nearly 5,000 stores worldwide.
According to the report, fashion and leather goods generate 41% of the company’s revenue, by far the highest proportion. Asia, excluding Japan, generates 30% of revenue, followed by the United States with 24%, then Europe (excluding France) with 19%.
The report described six pillars of its model as decentralised organisation, vertical integration, sustaining savoir-faire, organic growth, creating synergies and balancing across business segments and geographies.
In his opening letter, chairman and CEO Bernard Arnault, celebrated the company’s double-digit growth and gave special praise to the fashion house’s designers.
“2019 was another record year,” he wrote, “This performance reflects a well-calibrated strategy applied consistently and effectively. But it could not have been achieved without the exceptional appeal of our Maisons: their ability to constantly surprise and enchant our customers.”
