Revenue of French luxury group LVMH increased 28% to 36.7 billion euros in the first half of 2022
For the second quarter, revenue grew 27% against an exceptionally high comparable base. Organic revenue growth was 19%, in line with trends seen in the first quarter. Europe and the United States have seen strong gains since the start of the year, while Asia posted lower growth due to new health restrictions in China, LVMH said in a press release.
LVMH Moet Hennessy Louis Vuitton, the world’s leading high-quality products group, recorded sales of 36.7 billion euros in the first half of 2022, up 28% year-on-year in 2021. Organic revenue growth of the home fashion industry was 21%, and all business groups experienced double-digit organic sales growth during this period.
The company’s recurring operating profit grew 34% at 10,235 million euros in the first half of 2022, operating profit margin came in at 27.9% on revenue, up 1.3 points from the first half of the year. 2021, while the group’s net profit share is €6,532 million, up 23% from the first half of 2021.
Bernard Arnault, President and CEO of LVMH, said: “LVMH had an excellent start to the year to which all of our business teams contributed. It is the creativity and quality of our products, the delivery excellence and the rich cultural heritage of the Maisons, fueled by their history and know-how, that have made the Group what it is. outstanding worldwide. We’re confident into the second half of the year, but given the current health and geopolitical situation, we’ll remain vigilant and count on the team’s agility and talent to further solidify our lead. global leader in luxury goods by 2022”.
Profits of the fashion and leather division from recurring operations increased 33%. Christian Dior continues to experience significant growth in all its product categories. The latest fashion shows in Seville and Paris, which featured Maria Grazia Chiuri’s collections, were well received. Fendi has recorded solid growth thanks to the success of the Kim Jones collections. Celine has seen a very strong growth thanks to the remarkable success of the leather and ready-to-wear clothing created by Hedi Slimane, especially with the new high-end leather goods line for the Triomphe and 16 collections. your set. Loewe continues to show excellent form under JW Anderson’s bold creative impulse. Loro Piana and Marc Jacobs also had an excellent first half of the year, the statement added.
Fiber2 Fashion News Desk (KD)