‘Exceptional growth’ continues for LVMH
Luxury group LVMH has announced revenues of €44.2 billion for the first nine months of 2021. This figure represents an increase of 46% compared to the same period in 2020 and of 11% compared to the pre-pandemic levels of the first three quarters of 2019.
Its leathergoods and fashion division contributed €21.3 billion to the total, registering increases of 53% compared to one year ago and of 38% compared to two years ago, which the group said was a record.
Growth in the third quarter of 2021 remained “exceptional” for the leathergoods division, the group said. Louis Vuitton, which is celebrating the 200th anniversary of the birth of its founder, “performed remarkably well, driven by constant innovation and by the quality of its products”, it added.
LVMH also gave a special mention to Christian Dior, describing it has having shown “exceptional momentum” over the reporting period, while at Fendi, Kim Jones’ first collection was successfully rolled out in stores. Celine enjoyed strong growth in its leathergoods lines created by Hedi Slimane. Loewe and Marc Jacobs also performed very well, it said.
