The world’s largest luxury-goods maker, Louis Vuitton, recently reported a 2% gain in annual profit as sales growth in exclusive fashion and leather-goods rebounded in Q4.
Paris-based Moet Hennessy Louis Vuitton said that profit from recurring operations increased to €6.02bn, which was on target with the average estimate from 19 analysts compiled by Bloomberg.
Organic fashion and leather-goods sales were up 5% last year, up from a 4% gain in the first nine months.
Louis Vuitton’s strategy is to create more expensive products and open fewer stores in order to move upscale amid diminishing demand across Europe and Asia, a plan that, according to chief financial officer Jean-Jacques Guiony, will take time. Plus, LVMH is increasing investment in its smaller fashion brands, as well as in others outside to offset stubborn growth at Louis Vuitton.
ds maker, Louis Vuitton, recently reported a 2% gain in annual profit as sales growth in exclusive fashion and leather-goods rebounded in Q4.
Paris-based Moet Hennessy Louis Vuitton said that profit from recurring operations increased to €6.02bn, which was on target with the average estimate from 19 analysts compiled by Bloomberg.
Organic fashion and leather-goods sales were up 5% last year, up from a 4% gain in the first nine months.
Louis Vuitton’s strategy is to create more expensive products and open fewer stores in order to move upscale amid diminishing demand across Europe and Asia, a plan that, according to chief financial officer Jean-Jacques Guiony, will take time. Plus, LVMH is increasing investment in its smaller fashion brands, as well as in others outside to offset stubborn growth at Louis Vuitton.
