World luxury closes 2021 with dizzying results. To catalyze the attention of the market is the global flagship of the sector, lvmh. The French giant that controls 75 brands – including Dior, Bulgari, Fendi and Vuitton – filed last year with a new sales record: 64,2 billion euros, up 44% on 2020 and 20% on 2019. What drove the result, however, was no longer primarily the Chinese market, but the US one, with the US becoming the reference market for the group after the maxi-acquisition of Tiffany.
"Organic growth was 36% compared to 2020 and 14% compared to 2019 - reads the note from Lvmh - The year confirms a return to strong growth dynamics, after a first half of 2020 disrupted by the pandemic". Organic sales growth in the fourth quarter was 22% on 2019, with the segment of the Fashion and leather goods which recorded a surge of 51% again compared to 2019.
Il Net income reached 12,036 billion, up 156% on 2020 and 68% on 2019, while cash flow, exceeding 13 billion euro, exceeded both last year's figure and that of the previous year.
“In his first year in the group, Tiffany had a record-breaking performance in terms of sales, results and cash flow”, continues the company, adding that, overall, the Watches and Jewelery division achieved sales of 8,9 billion, up 167% on 2020, and a result operating capital of 1,6 billion, six times higher than in 2020 and up 128% on 2019.
Salvatore Ferragamo: revenues +30% in 2021
Returning to Italy, it also records positive numbers Salvatore Ferragamo, which in 2021 he made sales of 1,136 billion (excluding the perfume business), up 29,6% at current exchange rates and 31,4% at constant exchange rates compared to 2020.
In particular, "the e-commerce channel direct in FY 2021 continues to make strong progress, with revenues up by 41,3% (+43,3% at constant exchange rates) compared to FY 2020”, writes the Florentine company.
The area Pacific Asia it reconfirmed itself as the first market in terms of revenues for the group, up by 17,3% on an annual basis (+16,9% at constant exchange rates). Direct stores in China reported a 2021% increase in sales at constant exchange rates in FY 9,4 compared to FY 2020. Direct stores in Korea also reported solid sales growth. sales in FY 2021 (+13,6% vs FY 2020 at constant exchange rates)”. The Japanese market, on the other hand, saw an increase in revenues of 3,7% (+8,1% at constant exchange rates).
In terms of product categories, the note from the Salvatore Ferragamo group states that "all the main product categories recorded a significant increase in turnover compared to 2020, with footwear and leather goods which respectively represent 43% and 44% of the year's turnover”.
