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Fashion and Leather Goods Division Accounted for 86.5% of LVMH 2020 Profit

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LVMH, the world’s largest luxury group, owns 75 primary brands across five divisions. Fashion and leather goods, the largest of these, accounted for a 46% share of Q1 to Q3 2020 revenue. During the period, the segment’s sales fell by 11% but started showing signs of recovery in Q3 2020, with a 12% uptick.

The performance of the fashion and leather goods division improved further in Q4 2020 when its revenue soared by 18% to €7.3 billion. For the full year 2020, the segment’s organic revenue only declined by 3%, compared to its 24% decline during H1 2020. It thus accounted for 86.5% of LVMH’s profits for the year 2020.

Overall, LVMH group sales in Q4 2020 totaled €14.3 billion, down by only 3% YoY. Asia contributed to its strong performance with a 21% increase in regional sales. In contrast, sales in Europe fell by 24%.

For the full-year 2020, LVMH’s revenue sank by 16% to €44.65 billion while its net profit fell by 34% to €4.7 billion. On the bright side, the group completed the acquisition of US jeweler Tiffany at $15.8 billion. In 2021, analysts project an increase of 18% in revenue and a 67% uptick in earnings for LVMH.

LVMH Moët Hennessy Louis Vuitton (French pronunciation: ​[moɛt‿ɛnɛsi lwi vɥitɔ̃]), commonly known as LVMH, is a French multinational corporation and conglomerate specializing in luxury goods, headquartered in Paris, France. Read on who they are here:Read more here: https://www.lvmh.com/houses/fashion-leather-goods/

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The full story, statistics and information can be found here: https://www.finaria.it/pr/lvmh-market-cap-soars-to-e265-billion-tops-nestle-as-highest-valued-company-on-europe-stock-market/

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