LVMH certainly have not been feeling the ‘January pinch’ having recorded revenues of €46.8 billion in 2018. This is up a massive 10% from 2017
Profit from recurring operations amounted to €10 billion in 2018, up 21% and the group share of net profit amounted to €6.4 billion, up 18%.
The World’s largest luxury brand have been continuing their expansion into Europe, the United States and Asia, and with regards to their wine and spirits branch have reported ‘excellent performance and exceptional grape harvests’. The secret of LVMH’s success lies in the visionary hands of Chairman and CEO, Bernard Arnaud. Alongside his tried and tested method of acquiring faltering brands and breathing new life into them with big industry names to take them in new directions, one of his greatest acquisitions has been Ian Rogers, first ever Chief Digital Officer for LVMH and Apples former iTunes Director. Rogers has been tasked with keeping LVMH ahead of the game in this new digital era, not an easy feat in the luxury world where a personalised experience is expected, and standards are unfaltering high.
Also, noteworthy has been their decision to stockpile goods to the tune of four months ahead of Brexit, March 29th. Confirmed by Philippe Schaus, Head of Moët Hennessy (Financial Times).
Bernard Arnault, commented, “LVMH had another record year, both in terms of revenue and results. In particular, profit from recurring operations crossed the €10 billion mark. The desirability of our brands, the creativity and quality of our products, the unique experience offered to our customers, and the talent and the commitment of our teams are the Group’s strengths and have once again made the difference. In 2019 LVMH will continue its strong dynamic of innovation, targeted investments, combining tradition and modernity, long-term vision and responsiveness, entrepreneurial spirit and a sense of responsibility. In an environment that remains uncertain, we can count on the appeal of our brands and the agility of our teams to strengthen, once again in 2019, our leadership in the universe of high-quality products.