LVMH posts solid growth despite economic environment
All companies of LVMH, world’s luxury giant, from all categories posted growth results in the first half of 2012. In comparison with the same period last year, the growth rate has accellerated in 2012 worldwide, with the exception of China which has seen a slight decrease in its growth rate. For the first six months of 2012, LVMH registered a turnover of 12,96 billion euros, representing a 26% increase compared to 2011. The net profit of LVMH amounted to 1,68 billion euros, a 28% jump compared to 2011.
Two divisions of LVMH, selective retailing (Sephora) and fine wines spirits have outpaced the rhytm of the markets, Sephora registering a 26% increase in sales. Champagne sales increased by 11%, while fine cognac sales grew by 18%.
The fashion pole of the group, which is also the largest, has had a more modest increase equivalent to 17% increase in turnover for the first half of 2012, reaching a total of 4,66 billion euros.
Thanks to the acquisition of Bulgari earlier this year, sales of the fine jewellery and watches division of LVMH jumped by 133%, totalling 1,34 billion euros. Without Bulgari, the fine jewellery and watches division reported a 13% growth.