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Louis Vuitton India net profit jumps over 24% in FY19

The company's revenue grew by 41 per cent from 2017 to 2019 as well.

, ET Bureau|
Last Updated: Feb 20, 2020, 12.25 PM IST
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Globally, the company, LVMH Moët Hennessy Louis Vuitton recorded a revenue of €53.7 billion in 2019, up 15 per cent from its previous year.
Luxury goods retailer Louis Vuitton India Retail continued to do well in India, posting a net profit jump of 24.5 per cent this fiscal year 2019. The company's net profit has doubled from 2017 to 2019. For the year ended March 31, 2019, LV India Retail posted a net profit of Rs 16.17 crore versus Rs 12.98 crore in 2017-18. The company's revenue grew by 41 per cent from 2017 to 2019 as well.

According to documents recently filed with the registrar of companies (RoC), accessed through business information platform Tofler, LVMH, known for its iconic monogrammed bags, clothing, perfumes and leather goods reported an increase in profit after tax by Rs 3.19 crore. The company runs three stores in India in Delhi, Mumbai and Bengaluru.

The company's revenue went up to Rs 245.29 crore in 2019, from its earlier, Rs 203.5 crore in the previous fiscal. The company's country manager, Sunaina (Sunantha) Kwatra also announced her intent to resign to the board, added the data filed to RoC. An email sent to LV India Retail did not elicit a response till the time of publishing.


Louis Vuitton India Retail figures (source RoC data):
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LVMH Moët Hennessy has been in news globally. After a big ticked acquisition by LVMH of Tiffany & Co. for $16.2 billion, it took Bollywood actress Deepika Padukone on board, making her the first Indian star to feature in the luxury fashion giant's global campaign.

The actress joined international actresses like Laura Harrier, Emma Roberts, Sophie Turner, Zhong Chuxi, Chloë Grace Moretz and Urassaya Sperbund for LVMH creative director Nicolas Ghesquière's pre-fall 2020 campaign that pays tribute to classic horror books and films.

Globally, the company, LVMH Moët Hennessy Louis Vuitton recorded a revenue of €53.7 billion in 2019, up 15 per cent from its previous year. Its organic revenue growth was 10 per cent. The company said in a press release that Europe and the US experienced good growth over the year, as did Asia, despite a difficult environment in Hong Kong in the second half of 2019.

Indian luxury is small and industry figures are usually not well defined. But Statista estimates India’s luxury goods segment to be worth $8 billion and forecasts 6.6 per cent CAGR growth during 2019-23 period. That is much less, compared with the US market, worth $62 billion in annual sales, and China, worth $41 billion. Market research firm Euromonitor on the other hand, estimates India will grow at 18.1 per cent during 2019-23 period.

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