French group LVMH posts €64.2 billion revenue in 2021

The Fashion & Leather Goods business group recorded organic revenue growth of 47 per cent in 2021 compared to fiscal 2020. With organic revenue growth of 51 per cent compared to 2019, the fourth quarter showed a sharp rise compared to previous quarters. Profit from recurring operations was up 79 per cent compared to fiscal 2020.

“LVMH enjoyed a remarkable performance in 2021 against the backdrop of a gradual recovery from the health crisis. The group’s record results could not have been achieved without the efficiency and exceptional ability of our teams to adapt and notably to remain connected to our customers, continuing to inspire dreams, despite the crisis. 2021 was also a year in which LVMH was deeply moved by the tragic passing of Virgil Abloh, whose creative genius I would like to applaud. His immense visionary talent and his great wisdom will forever be embedded within the history of our Group,” Bernard Arnault, chairman and CEO of LVMH, said.

In 2021, LVMH witnessed exceptional performance by the Fashion & Leather Goods business group, in particular Louis Vuitton, Christian Dior, Fendi, Celine and Loewe, which achieved record levels of revenue and profitability.

“Our objective to strive for solid financial performance and our relentless quest for excellence remind us of our daily commitment to act in such a way as to make the world a better place. The group and its Maisons carried out numerous actions in 2021 to promote biodiversity, protect nature and to preserve skills and craftsmanship, and will continue to do so in the years to come. 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,” explained Arnault.

Fibre2Fashion News Desk (RR)