LVMH’s revenue from the Fashion and Leather Goods division totalled €22,237 million for 2019, up 20% on a reported basis and 17% on an organic basis, with profit from recurring operations increasing 24%. Louis Vuitton is said to have continued to deliver an “exceptional performance”, while Christian Dior had a “remarkable year”. Fendi’s highlight for 2019 was its final tribute to Karl Lagerfeld, after a collaboration of 54 years, while Celine gradually rolled out its boutique concept and Loewe delivered strong growth. The Loro Piana, Rimowa and Berluti brands “experienced good progress” in the year, according to LVMH.
The Watches and Jewellery business group recorded organic revenue up 3% in 2019 and profit from recurring operations was up 5%. In watchmaking, LVMH said that Chaumet’s growth was driven by the success of its iconic collections, while TAG Heuer continued to work with its partners to provide an “increasingly selective and efficient distribution network while pursuing its creative resurgence”. Hublot recorded strong growth, driven by the Classic Fusion, Big Bang and Spirit of Big Bang lines.
“In a buoyant environment that remains uncertain in 2020, we continue to be vigilant and focussed on our objectives for progress. We can count on the strength of our brands and the agility of our teams to reinforce, once again in 2020, our leadership in the universe of high-quality products”, said Bernard Arnault, Chairman and CEO, LVMH.