LVMH announces record results for 2011
World’s leading luxury group, LVMH announced record results for 2011, with salea reaching 23,66 billion euros (from 22 billion euros in 2010). Sales in Asia now represent 35% of all LVMH sales worlwide, while Europe registers 33% and the U.S. 22%. Net profits grew by 1% in 2011 reaching 3,6 billion euros, while the operational income increased by 22%, to a total of 5,26 billion euros, the very first time it surpasses the 5 billion euro benchmark. The group’s best performing brand remains Louis Vuitton.
Christian Dior, the group’s second largest company also had an exceptional performance in 2011, with its turnover increasing to 1,28 billion euros (a 1% increase on 2010). Christian Dior which also owns majority stakes in companies such as John Galliano reported a 21% increase in sales compared to 2010. Retail sales grew by 27% and profits climbed to 85 million euros.
The watches and jewellery division of LVMH almost doubled in size following the acquisition of Italian jeweller Bulgari last year. Bulgari’s excellent performance across all categories confirmed the considerable appeal of its products. The collections, which were developed around the theme Serpenti, a symbol for the Maison since the 1950s were very well received. Driven by the strong momentum at their network of stores, the other jewellery brands Chaumet, De Beers and Fred continued to develop their star collections.