LVMH sees jewellery drive record revenues of €64.2bn

LVMH Moët Hennessy Louis Vuitton, has recorded revenues of €64.2bn (£53.4) in 2021, up 44% compared to 2020 and up 20% compared to 2019, with it’s Jewellery business group recording revenue growth of 167% in 2021 compared to 2020.

This growth was attributed to its Tiffany brand, as profit from recurring operations was almost six times higher than in 2020 and up 128% compared to 2019. For its first year in the group, it said Tiffany saw “record performance in terms of revenue, profits and cash flow, and increased its global attractivity as a result of its high impact innovations and collaborations”.

High-end Jewellery sales reached an “all-time high” with the huge success of its annual High-End Jewellery Blue Book collection. The revenue and profits achieved a sharp increase compared to 2019.

Bernard Arnault, chairman and CEO of LVMH, said: “LVMH enjoyed a remarkable performance in 2021 against the backdrop of a gradual recovery from the health crisis.

“The Group’s record results could not have been achieved without the efficiency and exceptional ability of our teams to adapt and notably to remain connected to our customers, continuing to inspire dreams, despite the crisis.”

source https://www.jewelleryfocus.co.uk/203569-lvmh-jewellery-drives-record-e64-2bn-fy21-revenues