08.02.21
France
www.lvmh.com
Sales: $5.9 billion
Key personnel
Bernard Arnault, chairman and chief executive officer; Antonio Belloni, group managing director; Nicolas Bazire, development and acquisitions; Chantal Gaemperle, human resources and synergies; Jean Jacques Guiony, finance; Chris de Lapuente, selective retailing and beauty; Jean Baptiste Voisin, strategy
Major products
Perfumes and cosmetics: Guerlain, Acqua di Parma, Parfums Christian Dior, Givenchy Paris, Perfumes Loewe, Benefit Cosmetics, Make Up For Ever, Kenzo Parfums, Fresh, KVD Vegan Beauty, Marc Jacobs Beauty, Fenty Beauty
New products
Guerlain: Terra Cotta bronzing powder, Abeille Royale eye repair serum, Kiss Kiss Shine Bloom; Acqua di Parma: Blu Mediterraneo Fico di Amalfi body lotion and candle, Colonia Futura all over spray, Bergamotto La Spugnatura; Christian Dior: Eden-Roc fragrance, Dior Lip Glow lip balm (reformulation), J’Adore eau de parfum Infinissime, Abielle Royale, Orchidée Impériale; Givenchy—Rose Perfecto Plumping lip balm, Prisme Libre Skin-Caring Glow hydrating foundation, Irresistible EDT; KVD Vegan Beauty: Planet Fantastic eyeshadow; Fenty Beauty: Gloss Bomb Heat lipcolor; Benefit: They’re Real! Magnet mascara; Make Up For Ever: Watertone foundation
Comments: When the global economy shuts down, high fashion and jewelry becomes an afterthought for all but the wealthiest consumers. No wonder then that LVMH, the world’s largest luxury house, reported a 17% decline in sales last year. The cosmetics and fragrance division’s results were even worse, as sales fell 22%. Still, LVMH said the division showed good resilience, with growth in skin care and online sales, particularly in Asia. In its annual report, the company took a shot at competitors, noting “unlike certain competitors, (LVMH) limited promotions and refused to sell indirectly to the Chinese market, which presents major risks to medium term desirability for brands that follow that route.”
By region, Asia, excluding Japan, accounted for 45% of sales and Europe, excluding France, represented 18% of sales. Elsewhere, sales broke out like this: US, 14%; France and other markets, 9% each; and Japan, 5%.
The new year opened with LVMH completing its acquisition of Tiffany, the iconic US jeweler. Coty owns the cosmetics and fragrance license for Tiffany.
This year, Christian Dior is focused on fragrances, while makeup gets a makeover. In skin care, Dior is focused on China. Guerlain is expanding internationally, especially in China, Japan, the Middle East and travel retail.
For the three months, ended March 31, corporate sales rose 32%, but the company noted that all divisions are still negatively impacted by restrictions on international travel. Sales of perfumes and cosmetics increased 12%. LVMH’s leading beauty brands continued to be selective in their distribution and limit promotion. All of them benefited from the continued growth in online sales from local customers, which offset the impact of the suspension of international travel and the closure of many points of sale.
When the pandemic hit, LVMH was one of the first companies to dedicate its manufacturing operations to hand sanitizer production. In June, the company dedicated funds to help its employees. The LVMH Heart Fund is a global emergency and support fund for its 150,000 employees. Initial endowment was about $33 million.
www.lvmh.com
Sales: $5.9 billion
Key personnel
Bernard Arnault, chairman and chief executive officer; Antonio Belloni, group managing director; Nicolas Bazire, development and acquisitions; Chantal Gaemperle, human resources and synergies; Jean Jacques Guiony, finance; Chris de Lapuente, selective retailing and beauty; Jean Baptiste Voisin, strategy
Major products
Perfumes and cosmetics: Guerlain, Acqua di Parma, Parfums Christian Dior, Givenchy Paris, Perfumes Loewe, Benefit Cosmetics, Make Up For Ever, Kenzo Parfums, Fresh, KVD Vegan Beauty, Marc Jacobs Beauty, Fenty Beauty
New products
Guerlain: Terra Cotta bronzing powder, Abeille Royale eye repair serum, Kiss Kiss Shine Bloom; Acqua di Parma: Blu Mediterraneo Fico di Amalfi body lotion and candle, Colonia Futura all over spray, Bergamotto La Spugnatura; Christian Dior: Eden-Roc fragrance, Dior Lip Glow lip balm (reformulation), J’Adore eau de parfum Infinissime, Abielle Royale, Orchidée Impériale; Givenchy—Rose Perfecto Plumping lip balm, Prisme Libre Skin-Caring Glow hydrating foundation, Irresistible EDT; KVD Vegan Beauty: Planet Fantastic eyeshadow; Fenty Beauty: Gloss Bomb Heat lipcolor; Benefit: They’re Real! Magnet mascara; Make Up For Ever: Watertone foundation
Comments: When the global economy shuts down, high fashion and jewelry becomes an afterthought for all but the wealthiest consumers. No wonder then that LVMH, the world’s largest luxury house, reported a 17% decline in sales last year. The cosmetics and fragrance division’s results were even worse, as sales fell 22%. Still, LVMH said the division showed good resilience, with growth in skin care and online sales, particularly in Asia. In its annual report, the company took a shot at competitors, noting “unlike certain competitors, (LVMH) limited promotions and refused to sell indirectly to the Chinese market, which presents major risks to medium term desirability for brands that follow that route.”
By region, Asia, excluding Japan, accounted for 45% of sales and Europe, excluding France, represented 18% of sales. Elsewhere, sales broke out like this: US, 14%; France and other markets, 9% each; and Japan, 5%.
The new year opened with LVMH completing its acquisition of Tiffany, the iconic US jeweler. Coty owns the cosmetics and fragrance license for Tiffany.
This year, Christian Dior is focused on fragrances, while makeup gets a makeover. In skin care, Dior is focused on China. Guerlain is expanding internationally, especially in China, Japan, the Middle East and travel retail.
For the three months, ended March 31, corporate sales rose 32%, but the company noted that all divisions are still negatively impacted by restrictions on international travel. Sales of perfumes and cosmetics increased 12%. LVMH’s leading beauty brands continued to be selective in their distribution and limit promotion. All of them benefited from the continued growth in online sales from local customers, which offset the impact of the suspension of international travel and the closure of many points of sale.
When the pandemic hit, LVMH was one of the first companies to dedicate its manufacturing operations to hand sanitizer production. In June, the company dedicated funds to help its employees. The LVMH Heart Fund is a global emergency and support fund for its 150,000 employees. Initial endowment was about $33 million.