LVMH, the world’s largest luxury goods group, has posted record revenues of 64.2 billion euros (AUD$102.05 billion) in 2021 – a massive 44 per cent year-on-year jump and an increase of 20 per cent on its pre-pandemic performance in 2019.
The multinational’s cash cow division – Fashion and Leathergoods – reported sales of 30.89 billion euros (AUD$49.10 billion) last year. Selective Retailing, including Sephora, was a bright spot in second place with revenues of 11.75 billion euros (AUD$18.67 billion), followed by the Watches and Jewellery division with sales of 6.96 billion euros (AUD$11.06 billion). Sephora increased its revenues by 30 per cent globally as consumers flooded back into its stores over the Christmas period in the fourth quarter.
LVMH’s Perfumes and Cosmetics division enjoyed organic revenue growth of 27 per cent compared to 2020 with sales of 6.60 billion euros (AUD$10.49 billion).
Christian Dior‘s perfume portfolio was super-charged by the Miss Dior and Sauvage franchises. Sauvage became the highest-selling fragrance in the world in both the men’s and the women’s categories last year – a first for a men’s fragrance.
Guerlain also continued to kick goals with its Abeille Royale and Orchidée Impériale skincare brands.
Inter Parfums posted a record Q3, with sales surging 15 per cent by contrast to the same period last year to US$210 million. Net sales for the full year rose to US$879.6 million, compared to US$539 million in 2020 and US$713.5 million in 2019.
The multinational’s hero brands – Montblanc, Jimmy Choo, Coach and Guess – all exceeded global sales of US$100 million last year. While its mid-sized perfume brands such as Abercrombie & Fitch, Hollister, Oscar de la Renta, Van Cleef & Arpels and Karl Lagerfeld also made significant gains.
With new licenses such as MCM, Ungaro, Ferragamo and Moncler on track to make hefty contributions to Inter Parfums’ bottom line, the company has raised its guidance for 2022 to US$975 million.