One third of materials from recycled sources - LVMH
In 2024, a third of the materials used to make LVMH fashion brands’ products and their packaging were sourced through recycling processes, the group said in its newly published annual report.
It cited the Louis Vuitton Zippy Wallet, which is made from a supple leather, with offcuts used to strengthen the product.
More than 290,000 linear metres of fabric and 4,500 square metres of leather have been reused thanks to Nona Source, a platform that resells unused textiles and leather from the group’s Maisons.
The brands continue to roll out repair, care and refill services, supported by a working group focused on harmonising service standards. In 2024, over 10 million products were repaired, refilled or taken back across the whole group.
The fashion and leathergoods division brought in revenues of €41 billion in 2024, 3% higher than in 2023.
Group CEO Bernard Arnault said: “Whereas 2023 was the year in which demand began to normalise, 2024 was a year of preparation and renewed momentum. LVMH’s solid performance is even more impressive in light of the numerous challenges overcome to achieve it. Indeed, it is clear that global geopolitical tensions did not ease during the year, far from it. Exchange rates were also unfavorable to both our sales momentum and our profitability. LVMH succeeded in adapting to this environment, diversifying its businesses and locations to harness the resources to be able to end 2024 having, on the whole, delivered growth.”
Stéphane Bianchi, group managing director, added uncertainty continues to hang over markets. “In the short term, this is of course affects the behaviours of businesses and individuals, causing both investment and consumer spending to slow. For those who can take a longer view, though, a change of cycle also opens up new opportunities: opportunities to craft new designs and experiences, and satisfy new customer groups. It’s up to us to identify and seize these growth drivers.”
The Fashion & Leather Goods group comprises Louis Vuitton, Christian Dior, Celine, Loewe, Kenzo, Givenchy, Fendi, Emilio Pucci, Marc Jacobs, Berluti, Loro Piana, RIMOWA and Patou.
Image: The Louis Vuitton Torch Trunks protected the Paris 2024 Olympic Torches. Credit: LVMH
