First nine months of 2021 to remember for the luxury giant LVMH, which closes with a turnover of 44,2 billion euros, up 46% compared to the same period of 2020 and above all which erases the pandemic, with an increase of 11 % compared to 2019. In the third quarter alone, turnover rose by 20%, by 15,51 billion, in line with expectations. The growth also takes into account Tiffany, which joined the group at the end of 2020: the purchase of the historic US brand has made nearly tripling the jewelry division, which also includes Bulgari, which thus goes from 2,26 billion on 30 September 2020 to 6,1 billion (+49% on an organic basis and +4% compared to the period before the pandemic). Another protagonist is another Italian brand, Fendi, which together with the entire footwear and leather goods sector in the third quarter boasted record sales of 21,3 billion (+53% on 2020), with organic growth of 38% on 2019, thanks to double-digit revenue increases in Asia and the United States.
But all sectors have actually done very well. The sector perfumes and cosmetics for example, it recorded organic revenue growth of 30% in the first nine months of 2021, to 4,668 billion, compared to the same period of 2020. Brilliant performance also for the wine and spirits division which recorded an increase in turnover of 27% (+30% organic) to 4,2 billion. Also in this case, the Covid crisis was archived: compared to 2019, the growth was 10%. “Lvmh trusts in the continuation of the current growth; it will maintain a strategy focused on continuously strengthening the desirability of its brands – explains the group in a note – by relying on the authenticity and quality of its products, on the excellence of their distribution and on the responsiveness of its organization. LVMH is counting on the dynamic nature of its brands and the talent of its teams to further strengthen its global leadership position in luxury goods once again in 2021.” The expectations for the fourth quarter are even better, given that the group's turnover comes in the last part of the year driven by gifts.
