LVMH, the world’s leading luxury products groug, earned 23.7 billion Euros in revenue in 2011 – a 16 percent increase over 2010.
Announcing the company’s annual results, LVMH chairman and CEO Bernard Arnault said 2011, which saw the acquisition of Bulgari for €3.7bn in June, was an excellent vintage for the company thatand highlighted “the power of our brands, the excellence of our craftsmanship and the appeal of our products”.
“Our businesses enjoyed excellent momentum and profit from recurring operations passed the threshold of €5 billion for the first time,” he said.
LVMH’s watches & jewellery business group recorded organic revenue growth of 23 percent in 2011.
According to the company, group highlights included:
- TAG Heuer made a splash with the launch of two exceptional products entirely developed and manufactured by its own workshop: the Mikrograph 100 and the Mikrotimer Flying 1000.
- Hublot continued its innovations with the launch of Masterpieces, the new watch collection of Grandes Complications, and extended its store network.
- Zenith benefited from the renewal of its emblematic lines which demonstrate the first class craftsmanship of its Manufacture.
- Bulgari’s excellent performance across all categories confirmed the considerable appeal of its products.
- Driven by the strong momentum at their network of stores, the other jewellery brands Chaumet, De Beers and Fred, continued to develop their star collections.
LVMH concluded that “after an exceptional 2011” and despite an uncertain economic environment in Europe, the company is “well-equipped to continue its growth momentum across all business groups in 2012”.
“Driven by the agility of its organisation, the balance of its different businesses and geographic diversity, LVMH enters 2012 with confidence and has, once again, set an objective of increasing its global leadership position in luxury goods.”
LVMH owns over 60 prestigious brands in a diverse range of product categories– wine and spirits, fashion and leather goods, perfumes and cosmetics, watches and jewellery and selective retailing.