By Agence France-Presse
The world’s leading luxury retailer LVMH posted record sales of 46.8 billion euros ($53.5 billion) in 2018, up 10 percent from 2017 as markets grew in Asia, Europe, Japan, and the United States, it said Tuesday.
LVMH, known for high-end brands such as Louis Vuitton leather goods and fashion, said net profit jumped 8 percent from a year earlier to 6.4 billion euros.
“LVMH had another record year, both in terms of revenue and results,” a statement quoted chairman and chief executive Bernard Arnault as saying.
The wines and spirits division benefitted from an “exceptional harvest both in terms of quantity and quality,” the company said, and “all business groups recorded excellent performances.”
The group’s brands include Moet & Chandon and Veuve Clicquot champagnes, Hennessy cognac and Chateau d’Yquem wine.
Among its fashion labels are Christian Dior and Givenchy, while the group also owns Guerlain perfumes, TAG Heuer watches and Bulgari jewelry, and the Paris department store Le Bon Marche Rive Gauche.
Profit from recurring operations reached 10 billion euros, a gain of 21 percent, and the group’s operating margin rose to 21.4 percent from 19.5 percent a year earlier, the company said.