Profits fell almost 99% for LVMH in 2001 with falling sales and other costs leaving the luxury goods house with just Eur10 million in profits, down from Eur722 million in 2000. The worst performers were the DFS chain of luxury shops at airports and the Sephora perfume and cosmetics chain. The retailing division, including DFS, lost Eur194 million.

The best results came from the fashion and leather goods division where sales climbed to Eur1,274bn from Eur1,169bn, helped by record margins for Louis Vuitton.