LVMH posts £53.4 billion revenue in 2021 amid luxury spending boom

Luxury goods conglomerate LVMH posted revenue of £53.4 billion (€64.2 billion) in 2021, up 44% year on year and up 20% compared to 2019.

LVMH Moët Hennessy Louis Vuitton, which owns brands including Christian Dior, Fendi, Loewe, Tiffany and cosmetics retailer Sephora, reported organic revenue growth of 36% compared to 2020 and 14% compared to 2019.

The group said its Q4 sales growth accelerated, reaching £16.5 million (€20.04 billion) overall, with growth led by the French group’s biggest earners Louis Vuitton and Dior.

The luxury labels contributed to a rise in sales of LVMH’s largest division, fashion and leather goods, recording organic revenue growth of 47% in 2021 compared to 2020 and 42% compared to 2019. 

The Group’s organic revenue growth of 22% in the fourth quarter compared to 2019 reflects the accelerated growth of its activities, with revenues for the business in the last three months of last year came in 51% above their 2019, pre-pandemic level.

Commenting on the results, Bernard Arnault, LVMH Chief Executive and Chairman said: "LVMH enjoyed a remarkable performance in 2021 against the backdrop of a gradual recovery from the health crisis. 2021 was also a year in which LVMH was deeply moved by the tragic passing of Virgil Abloh, whose creative genius I would like to applaud.

"Despite the uncertainties that remain at the start of this new year, which continues to be disrupted by health concerns, we approach 2022 with confidence."