LVMH galvanized by the Covid pandemic

The luxury giant achieved 12 billion euros in net income last year, up 68% compared to 2019.

First of the French flagships of the CAC 40 to publish its 2021 results, LVMH killed the game from the outset. First market capitalization in Europe, the world leader in luxury achieved a turnover of 64.2 billion euros last year, up 36% in 2020, and 14% compared to 2019.

The Covid pandemic, which had plunged its sales and profits in the first half of 2020, seems to have had a galvanizing effect on LVMH since then. In two years, its operating profit has increased by half, to 17 billion, its net profit by 68%, to 12 billion, and its free cash flow has doubled, to 13 billion. By way of comparison, the acquisition of Tiffany, the largest in its history, cost it, just a year ago, 14.2 billion euros.

The most spectacular aspect of LVMH’s performance is the growth of its fashion and leather goods division (Louis Vuitton, Christian Dior, Fendi, Celine), which generates three-quarters of the group’s profits. His number…

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