LVMH has announced its financial results for fiscal year 2019.
According to the company, revenue in 2019 reached €53.7 billion, an increase of 15% when compared to 2018 revenue. LVMH saw revenue in Q4 2019 increase by 12% over Q4 2018 revenue.
The company's Perfumes & Cosmetics category reached €6.8 billion in FY 2019, an increase of 9% over FY 2018. The company stated it saw "excellent growth of flagship brands and rapid progress in Asia."
The Perfumes and Cosmetics business group achieved organic revenue growth of 9%, driven by the remarkable momentum of its major brands, notably Dior, Guerlain and Givenchy. Profit from recurring operations was up 1% after taking into account an exceptional depreciation of the product lines of certain young American brands. Skin care grew, underpinned notably by the demand in Asia. Christian Dior continued to grow much faster than the market. In addition to the strength of its iconic perfumes J’adore, Miss Dior and Sauvage, makeup and skin care contributed significantly to the excellent performance of the Maison. Guerlain’s growth accelerated and the brand enjoyed particularly good momentum with the success of Abeille Royale in skin care and Rouge G in makeup. Parfums Givenchy achieved another year of strong growth thanks to its makeup and its L’Interdit perfume. Fresh, Fenty Beauty by Rihanna and Acqua di Parma grew rapidly.