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LVMH revenue climbs 16 % in 2011

3 Feb 12 - 10:08AM  | Design & Luxury

Revenues rose by 16 per cent for LVMH Moet Hennessy - Louis Vuitton during 2011, boosted by strong performance in Europe, Asia and the US.

According to the global luxury products company, the fourth quarter of the year saw a 20 per cent jump in revenue, with favourable trends continuing throughout the year and following on from a successful 2010.

LVMH, which counts an array of leading names among its brands, stated it saw a 16 per cent rise in revenues last year to €23.7 billion (£19.7 billion), including the integration of jewellery firm Bulgari into the business from the end of June.

Bernard Arnault, LVMH chairman and chief executive, described 2011 as "another great vintage" for the organisation, adding: "In 2012, LVMH intends to further strengthen its global leadership position in high quality products by relying on its sound, long-term strategy."

The Louis Vuitton brand witnessed particularly strong growth last year, with double-digit increases in revenues and "exceptional profitability", as it "further increased its lead over other luxury brands".

Overall, LVMH said its fashion and leather goods business pushed organic revenue growth up by 16 per cent over the 12 months in question.

A new workshop was opened in Marsaz, France, while excellent performance was seen across all Fendi's product categories, Donna Karan expanded in the US and Peekaboo continued to strengthen.

In addition, the Givenchy and Celine Loewe lines both "showed remarkable momentum thanks to the creative spirit which animates them".

With more than 2,500 stores around the world and an expanding international presence, LVMH is based in France and has over 80,000 employees working for more than 60 prestigious brands.

The Louis Vuitton part of the company was founded in 1854 and produces goods including a ready-to-wear fashion collection, trunks, watches, shoes, jewellery, sunglasses and accessories.

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