Double-digit sales growth for 2011
Luxury goods conglomerate Moët Hennessy Louis Vuitton (LVMH), has announced a 16% increase in revenue reaching €23.7bn in 2011. This includes the integration of Bulgari as of 30 June 2011. Organic sales of perfumes and cosmetics jumped 9% reaching €3.1bn with strong growth in Asian and American markets.
Group revenue increased by 20% in the fourth quarter with organic growth of 12%. The performance, the company said, is in line with the favourable trends observed since the beginning of the year, and compares to the fourth quarter of 2010, which also grew.
Parfums Christian Dior continued to perform well with J’adore holding its position as leading female fragrance in France, while there were good results from Guerlain, Parfums Givenchy, Benefit and Make Up For Ever.
“2011 was another great vintage for LVMH, highlighting once again the power of our brands, the excellence of our craftsmanship and the appeal of our products,” commented Bernard Arnault, chairman and ceo. “Our businesses enjoyed excellent momentum and profit from recurring operations passed the threshold of €5bn for the first time. The agreement with the Bulgari family was one of the key moments of the year. In 2012, LVMH intends to further strengthen its global leadership position in high quality products by relying on its sound, long-term strategy.”