Following a record-breaking year of sales in 2017, LVMH recently announced that it has surpassed its earnings record in 2018. The French multinational luxury goods conglomerate revealed that it made an incredible €46.8 billion EUR (approximately $53.4 billion USD) last year. Additionally, the impressive feat comes with a record net profit growth of 18 percent.
LVMH is noting that it was the profitability of Louis Vuitton and Dior that lead to its strong 2018 earnings. The fashion and leather offerings from the two labels has been credited with driving the double-digit increase in both revenue and profit. Moving into 2019, it is expected that Virgil Abloh and Kim Jones will be amplifying the popularity of the two houses.
LVMH also noted a state of reorganization of the Marc Jacobs label, and looked back on the global response to Hedi Slimane‘s inaugural collections for CELINE. Aside from a mixed critical reception, LVMH is ambitiously looking towards Slimane’s place at CELINE.
For more contemporary fashion, SIKI IM took to the woods for its FW19 collection.
- financial times