LVMH grows 44% in 2021, led by fashion and leather

Worldwide
Published:  28 January, 2022
Credit: Louis Vuitton

The luxury goods group recorded revenue of €64.2 billion in 2021, an increase of 44% on 2020 results and 20% up on pre-pandemic 2019.

LVMH confirms a return to strong growth momentum following severe Covid-19 related disruption in the beginning of 2020.

The Fashion & Leather goods business group recorded record revenue in 2021, with organic revenue growth of 47% in 2021 compared to 2020 and 42% compared to 2019. This was driven by the fourth quarter, which saw a growth of 51% over the same period in 2020.

The Watches & Jewellery business group recorded revenue growth of 167% in 2021 compared to 2020 thanks to Tiffany, which saw record performance in terms of revenue, profits and cash flow, and increased its global attractivity as a result of its high impact innovations and collaborations, the company says.

Meanwhile, the Perfumes & Cosmetics business group recorded organic revenue growth of 27% in 2021 compared to 2020, the Wines & Spirits business group saw organic revenue growth of 26% in 2021 compared to 2020 and 9% compared to 2019 and, in Selective Retailing, organic revenue was up 18% compared to 2020 and down 18% compared to 2019 due to the impact of travel retail.

Bernard Arnault, Chairman and CEO of LVMH, said: “Despite the uncertainties that remain at the start of this new year, which continues to be disrupted by health concerns, we approach 2022 with confidence and are convinced that LVMH is in an excellent position to further strengthen its lead in the global luxury market.”