French luxury group LVMH's revenue up 28% to €36.7 bn in H1 2022

In the second quarter, revenue increased by 27 per cent against a particularly high basis of comparison. Organic revenue growth was 19 per cent, in line with trends seen in the first quarter. Europe and the United States have been up sharply since the start of the year, while Asia saw a lower level of growth due to the new health restrictions in China, LVMH said in a press release.

The company’s profit from recurring operations was up 34 per cent at €10,235 million for the first half of 2022, operating margin reached 27.9 per cent of revenue, up 1.3 points compared to the first half of 2021, while group share of net profit was €6,532 million, up 23 per cent compared to the first half of 2021.

Bernard Arnault, chairman and CEO of LVMH, said: “LVMH has enjoyed an excellent start to the year, to which all of our business groups contributed. It is the creativity and quality of our products, the excellence of their distribution and the rich cultural heritage of our Maisons, fuelled by their history and know-how, that enable the Group to excel around the world. We approach the second half of the year with confidence, but given the current geopolitical and health situation, we will remain vigilant and count on the agility and talent of our teams to further strengthen our global leadership position in luxury goods in 2022.”

Fashion and leather segment's profit from recurring operations was up 33 per cent. Christian Dior continued to enjoy remarkable growth in all its product categories. The latest fashion shows in Seville and Paris, which highlighted the collections of Maria Grazia Chiuri, were very well received. Fendi recorded solid growth, driven by the success of the Kim Jones collections. Celine saw very strong growth resulting from the remarkable success of the ready-to-wear and leather goods created by Hedi Slimane, notably with the new line of high-end leather goods for its Triomphe and 16 collections. Loewe continued to show excellent momentum under the impetus of the bold creativity of J W Anderson. Loro Piana and Marc Jacobs also enjoyed an excellent first half of the year, the release added.

Fibre2Fashion News Desk (KD)