The Fashion & Leather Goods business group recorded organic revenue growth of 14 per cent in the first half of 2017 at LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group. Revenue rose 17 per cent and profit from recurring operations was up 34 per cent. The Group’s revenue increased 15 per cent to €19.7 billion.
The momentum at Louis Vuitton’s Fashion & Leather Goods business, driven by its exceptional creativity, was demonstrated across all its product categories. The Cruise Collection presented at the Miho Museum in Kyoto, Japan, was a great illustration of this. The launch of new models resulting from the collaboration with the artist Jeff Koons and the cult New York skatewear brand, Supreme, were the highlights of the first half, LVMH said.
Fendi continued its strong growth and enriched its leather goods lines, the company said. Loro Piana strengthened its presence in Asia with several openings. Céline, Loewe and Kenzo experienced good growth. Marc Jacobs strengthened its product offering and continued its restructuring. Other brands continued to grow. Rimowa, which joined the LVMH Group, is consolidated for the first time in the first half-year accounts.
Organic revenue growth for LVMH Group was 12 per cent compared to the same period in 2016. During the first half of the year, the Group benefited from a favourable comparison base, particularly in Asia but also in France, where activity was impacted last year by a decline in tourism.
Profit from recurring operations was €3.640 billion for the first half of 2017, an increase of 23 per cent. Operating margin reached 18.5 per cent, an increase of 1 percentage point. Group share of net profit amounted to € 2.119 billion, an increase of 24 per cent.