Luxury fashion conglomerate LVMH has bested its record-breaking sales in 2017 with even better results in 2018.
At a press conference to announce its 2018 results on Tuesday, the company behind Louis Vuitton, Dior, Celine, RIMOWA, Fendi, and more announced it had enjoyed net profit growth of 18 percent last year, a new record. The group’s total revenue for the year was €46.8 billion (approximately $53.4 billion), marking a 10 percent jump on 2017.
According to Fashionista, executives pointed to Louis Vuitton, whose profitability “remains at an exceptional level,” and Dior, which had “excellent performance in all regions and product categories.” Executives also described Hedi Slimane’s Celine as being at an “ambitious stage,” adding, “His first runway show in October was a global success.”
At the event, LVMH chairman and CEO Bernard Arnault was asked about rumors LVMH is working on a deal with Rihanna, but offered no confirmation. “We could pursue the concept of developing something with Rihanna,” Arnault said. “But nothing is as firm as they stand now.”