LVMH breaks sales records
A multinational conglomerate of luxury brands, LVMH Group of Companies has announced a record sales growth in 2018. Thanks to the change of a number of designers and managers, sales reached $53.4 million (or 46.8 million euros). LVMH includes luxury Houses such as Louis Vuitton, Dior, Emilio Pucci, Berluti, Celine, Fendi, Givenchy, Kenzo, Loewe, Loro Piana, Marc Jacobs, Moynat, RIMOWA, Nicholas Kirkwood and Pink Shirtmaker.
In LVMH noted that thanks to two Houses – Louis Vuitton and Dior – there was a sharp, almost twofold jump in sales growth. In the conglomerate itself, this is directly associated with the arrival of designers Virgil Abloh at Louis Vuitton and Kim Jones with By Maria Grazia Chiuri in Dior. Enthusiastic customer and press reviews of the new collections of the invited design team helped to increase customer loyalty and, as a result, sales.
In addition, LVMH explained that they are currently busy with permutations in CELINE House and have ambitious hopes for the designer Edi Slimane who came there (recently «MM» wrote about his new collection for CELINE). Work is also underway to reorganize the brand Marc Jacobs, where, perhaps, a team with completely different views will be identified and new product lines will appear.
Are engaged in LVMH and the selection of professional managers, and the structure itself is likely to become more flexible. The LVMH currently includes about 70 Fashion houses and brands. In addition to the luxury segment of clothing and leather and fur products, watches, perfumes and even elite wines are sold here. By the way, interest in elite whiskies and cognacs also grew last year, but the Group's sales growth was due to the efforts of management teams and designers in the fashion industry.
Photo: LVMH and open sources