Monday December 4, 2023

LVMH Pockets $33.8B in First Half of the Year

  • Louis Vuitton Möet Hennessy is continuing to benefit from surging fashion sales.
  • The luxury conglomerate reported $33.8 billion in revenue.
Louis Vuitton/Design: Alex Brooks
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Fashion sales are booming, and Louis Vuitton Möet Hennessy continues to reap the benefits. 

The luxury conglomerate reported $33.8 billion in revenue for the first half of 2021, a 56% increase compared to a year prior.

The strong start was driven by LVMH’s largest group, Fashion & Leather Goods, which saw record revenue of $16.3 billion.

LVMH’s list of businesses is expanding, and its sports ties are getting deeper.

  • It bought Tiffany for $15.8 billion in January and purchased 50% of Jay-Z’s Armand de Brignac champagne the next month. 
  • Last week, it acquired a 60% stake in Off-White. Created by Louis Vuitton men’s artistic director Virgil Abloh, the brand produces athletic apparel and a popular line of sneakers with Nike.
  • Louis Vuitton produced this year’s NBA Finals trophy case.
  • Dior released Air Jordans; Hennessy partners with the NBA; TAG Heuer sponsors Porsche racing and Naomi Osaka; Veuve Clicquot sponsors the Polo Classic.

CEO Bernard Arnault credits the success to “having continued to innovate and invest in its businesses throughout the pandemic.”

LVMH’s market cap crossed $400 billion for the first time this month.

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