The watches and jewellery division's sales rose by 138% when including acquisitions and exchange rate effects, benefiting from the consolidation of Tiffany.
#Louis vuitton about us free
LVMH's revenues had dropped by 16% last year, and its airports duty free business is still struggling.īut its fashion and leather goods division, which houses Vuitton, Dior and brands such as Fendi and which accounts for nearly half of LVMH's revenues, recorded a 52% increase in like-for-like sales, again way above analysts forecasts of a 27% rise.
"Nothing replaces store visits, you can just improve it with a visit before online," finance chief Jean-Jacques Guiony told a conference call with analysts. Luxury customers have begun buying more pricey goods online too, which helped Vuitton for instance, though LVMH said this remained a minor factor overall. That contrasted with a 9% drop in Europe in the period, where economies are also expected to recover this year, but some countries, including France and Italy, have brought in new lockdowns to control rising infection rates.Īcross much of Asia, stores have been open since last spring. Sales in Asia, excluding Japan, were up 86% from year-ago levels, and in the United States, which is rolling out a massive stimulus programme, revenues rose 23%. Compared with pre-pandemic levels and the first quarter of 2019, like-for-like sales were up 8%. In 1896, Vuitton’s son Georges invented the signature LV monogram, along with the diamond, quatrefoil and circle patterns to ward off counterfeiters. That was nearly double an analyst consensus forecast for 17% growth cited by UBS. Founded by the French luggage maker Louis Vuitton in 1854, the Louis Vuitton company first revolutionized travel gear by popularizing the flat-bottomed canvas trunk. jeweller Tiffany, rose by 30% year-on-year in the three months to March to 14 billion euros ($16.70 billion). Its like-for-like sales, which strip out the effect of currency changes and its acquisition of U.S.