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LVMH Posts Record Revenue First Half 2010
Posted: August 6, 2010
LVMH Moët Hennessy Louis Vuitton recorded revenue of €9.1 billion in the first half of 2010, an increase of 16%. All business groups achieved double-digit organic revenue growth. The company, according to its release, performed particularly well in Asia, the U.S. and Europe.
“The 2010 first half results, once again, demonstrate the exceptional appeal of our brands as well as the effectiveness of our strategy, as pertinent in the context of a recovery in 2010 as it was during the global economic crisis in 2009," said Bernard Arnault, chairman and CEO, LVMH. "All LVMH’s business groups contributed to this excellent half year. Operating margin has improved considerably thanks to robust revenue growth and the control over operating costs. This focus on cost control will continue into the second half of the year despite the momentum in the markets. The group approaches the end of the year with confidence, and is relying upon the creativity and quality of its products as well as the effectiveness of its teams to pursue further market share gains in its historical markets as well as in high potential emerging markets.”
In the first half of 2010, the perfumes and cosmetics business group registered revenue growth of 12%, and a 50% increase in profit from recurring operations. LVMH’s brands benefited from strong growth in Asian markets and a return of demand in Europe, as well as in the United States. By accelerating the development of its star lines, Christian Dior achieved strong growth and gained market share. Beyond the global success of J’Adore, the first half was notable for the progress of Miss Dior Chérie and Eau Sauvage. In makeup, the new foundation Diorskin Nude and the lipstick Rouge Dior were a major success. Guerlain benefited from the 2009 launch of its Idylle perfume and from the growth of Orchidée Impériale, which is proving to be an exceptional product. The ongoing success of Ange ou Démon and its major classics were the key highlights for Parfums Givenchy. Benefit and Make Up For Ever enjoyed particularly strong growth.