The year 2020 no longer exists for the luxury superstar, LVMH.
This week, Bernard Arnault once again announced exceptional results. A symbolic act, the growth of his group is so powerful that it is calculated based on the year 2019 and not, as tradition would have it, in comparison with last year.
Turning the page on the annus horribilis...
It would have been easy to post three-digit growth, four times higher than the figures for the moribund year 2020. No: when you are strong, you compare yourself with the strong, you do not fall into the easy, nor especially into the 'insolence. This act of "skipping 2020" is proof that luxury has turned the page on this annus horribilis, it allows itself to erase it, like an Instagram feed.
Four facts further support the extraordinary economic resilience of the LVMH group:
1. The Vuitton engine, which accounts for more than 50% of the group's revenues, drives the growth of the other Fashion & Accessories houses, in particular Fendi, Loewe, Celine and Marc Jacobs.
2. The return to life and the desire to taste new experiences (restaurants, hotels, etc.) in China and the United States do not come at the expense of purchasing luxury goods.
3. Dependence on Chinese customers is no longer progressing, even if it remains strong. This demonstrates the resilience of the US market and the slow return to normal in European markets
4. LVMH is preparing for the future, with a series of strategic mergers and acquisitions after the US giant Tiffany & Co: FeelUnique, OFF White, Tod's, Phoebe Philo...
Case to follow.
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