LVMH: sales fall 17% in 2020
(CercleFinance.com) - LVMH's sales fall by 17% y-o-y in 2020, reaching 44.
65 billion euros, down 16% LFL.
Net profit, group share amounted to 4.7 billion euros, down 34% from 2019.
Over the full year, sales in Fashion & Leather Goods resisted the best (-3% in organic terms), while sales in the other sectors declined more sharply: -14% for Wines & Spirits, -22% for Perfumes & Cosmetics, -23% for Watches & Jewellery and -30% for Selective Retailing.
However, in Q4, Fashion & Leather Goods sales managed to turn the tables, posting 18% growth, while other sectors continued to decline.
In the continued uncertain global context, even though the vaccine rollout suggests that an end to the pandemic could be on the horizon, the group is confident that it is in an excellent position to benefit from the recovery that all hope for, further strengthening its position in the global luxury goods market.
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