European multinational luxury goods conglomerate LVMH, whose portfolio includes fashion brands like Louis Vuitton, Fendi, Givenchy and Céline, has witnessed 10 per cent increase in revenue of € 21.8 billion. The brand reported 12 per cent increase in organic growth as compared to the same period last year.
The fashion retailer noted good growth in the United States, Asia and Europe during the period under review.
The luxury goods conglomerate reported an increase of 28 per cent in its profit from recurring operations to € 4 648 million in the reporting period.
“The company reported an excellent result in the first half despite unfavorable currency environment. It attests to the strong desirability of our brands and the effectiveness of our strategy,” said Bernard Arnault, Chairman and CEO of LVMH.
According to Arnault, standards of quality and creativity required from our Maisons, which combine both modernity and tradition, were the key to LVMH’s success.
Fashion and leather goods section overall reported a 15 per cent surge in organic income in first half of 2018. Profit from running operations increased 27 per cent.
