LVMH celebrates leathergoods success
25/04/2023
An energy reduction plan was introduced to cut energy consumption by 10% between October 2022 and October 2023, reduce greenhouse gas emissions from energy consumption by 11%, and cut scope 3 emissions by 15%.
For Leather, 91% supply chains are certified, 10% higher than in 2021. The country of origin is known for 86% of leather, 10% more than a year ago.
The Fashion & Leather Goods business group delivered an “outstanding performance” during the year. Revenues grew 25% to EUR 38.6 billion.
Louis Vuitton opened two new workshops, including one for precious leather at Trinity Abbey, a historic monument in Vendôme, France. The two workshops will employ 400 leatherworkers.
For Fendi, 2022 was marked by the success of collections designed by Kim Jones and Silvia Venturini Fendi. In September, a New York fashion show celebrated the 25th anniversary of the iconic Baguette bag, featuring numerous reinterpretations, including a charm version developed with Tiffany and a collaboration with Marc Jacobs. Two new workshops were opened, one for leathergoods and accessories, in the Tuscan hills near Florence, and the other, for footwear, in Fermo in the Marche region.
Already very strong in Europe, Loewe strengthened its positioning in the US, opening new stores in New York and Los Angeles. The maison continued to develop its leathergoods school.
LVMH CEO Bernard Arnault said: “Our success will be all the more brilliant if it benefits everyone – beneficial for us and for our employees, for our customers of course, for our stakeholders, and above all for our future. This is about acting for the common good and ensuring that our success has positive impact beyond our immediate sphere.”
LVMH employs nearly 200,000 in 80 countries.
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