Even with a stationary engine, LVMH is breaking records.
After an exceptional year in 2021, the world leader in luxury saw its turnover jump 21% in the first half, to 36.7 billion euros.
Its operating profit increased by 34%, to more than 10 billion.
“An excellent start to the year
,” welcomes Bernard Arnault, CEO of LVMH.
The group has however suffered from a fall of more than 10% in China, its second market (estimated by analysts at more than 20% of its activity in 2021).
After a stable start to the year,
“the second quarter was affected by new health restrictions”
, explains the group, without quantifying the fall over this period.
More than 20% of its stores were closed for administrative reasons at the height of the period, and many others were deprived of customers because of the psychosis caused by the Delta variant.
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LVMH's geographic diversification more than offset the fall in China.
Its sales increased by 24% in the United States…
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