Luxury giant LVMH recorded revenue of EUR 44.2 billion in the first nine months of 2021, up 46% compared to 2020. The organic revenue growth was of +40% and most importantly up 11% compared to the same period in 2019, before the pandemic. This strong rebound emerging from the health crisis was driven by the Fashion & Leather Goods business group, with an impressive +57% organic revenue increase (+38% versus 2019).
The 2021 Q3 performance was in line with that of the first half of the year, whether by activity or by region. If all activities contributed to this positive performance, revenues were particularly boosted by the Fashion & Leather Goods business unit. With EUR 21,3 billion, the organic growth of the revenue of the division increased by 53% while the organic growth was +57%.
For what is our main concern here at MONOCHROME, the Watches & Jewelry division revenue was multiplied by 2.7 at EUR 6.160 billion thanks to the integration of Tiffany & Co., which was consolidated for the first time in 2021. The organic revenue increased by 49% over the first nine months and by 4% compared to the same period in 2019.
By region, LVMH reports sustained revenue growth in Asia, excluded Japan, (+48% organic growth) and the United States (+47% organic growth). The recovery was more gradual in Japan (+31% organic growth) and in Europe (+24% organic growth).
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This post first appeared on Monochrome Watches - An online magazine dedicated to fine watches.