Revenue for the French luxury conglomerate amounted to €44.7 billion in 2020, down 17%, with the Fashion & Leather Goods category recording double-digit growth in the last two quarters.
In the fourth quarter of 2020, LVMH’s organic revenue declined 3% as the Group saw a significant improvement in trends in all its activities compared to the first nine months of 2020. The Fashion & Leather Goods category in particular enjoyed a remarkable performance, with double-digit growth in both the third and fourth quarters. According to LVMH, Europe remains affected by the crisis, while the U.S. saw a good recovery and Asia grew strongly. Profit from recurring operations totalled €8.3 billion in 2020, down 28% over the year, but with a return to growth in the second half (+7%). Operating margin was 18.6% in 2020 and Group share of net profit amounted to €4.7 billion, down 34%.
To read the rest of this report, click on ILM - LVMH results