European multinational luxury goods conglomerate LVMH, whose portfolio includes Louis Vuitton, Fendi and Céline, and recorded US $ 22.4 billion in sales for the year in review, has bagged top position among 100 luxury companies in the world. The ranking has been given to the company by thee Global Powers of Luxury Goods 2017 report conducted by audit and consulting firm Deloitte.
The list has been followed by Swiss Group Richemont (US $ 12.2 billion) and U.S. Estée Lauder (US $ 11.3 billion).
The report examines and lists the 100 largest luxury goods companies globally, based on the consolidated sales of luxury goods in financial year 2014 (which we define as financial years ending within the 12 months to 30 June 2015). It also provides an outlook on the global economy; an analysis of merger and acquisition activity in the industry and discusses the key forces shaping the luxury market.
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The world’s 100 largest luxury goods companies generated sales of US $ 222 billion in financial year 2014, 3.6 per cent higher year-on-year. The average luxury goods annual sales for a Top 100 Company is now US $ 2.2 billion.
The study indicates that the global luxury industry is relatively resilient, with an average sales growth of 6.8 per cent compared to 2014. This increase in turnover marks a noticeable improvement in growth too, up 3.7 per cent over the year prior, mainly due to favourable exchange rates, states Deloitte report. It may be mentioned here that French luxury companies noted the strongest growth in 2016 at an average rate of 14.9 per cent.
