LVMH First Half Revenue Trebles, Tiffany Performs "Extremely Well"

By John Jeffay / August 02, 2021 / www.idexonline.com / Article Link

(IDEX Online) - LVMH sales of watches and jewelry more than trebled in the first half of 2021, the company said - up to $4.75bn.The French luxury conglomerate said Tiffany & Co, which it acquired earlier this year for $16.2bn after prolonged negotiations, had performed extremely well."The first half saw the integration for the first time of iconic jewelry maison Tiffany, which has benefited from the new team's focus on its iconic products," said LVMH.Its watches and jewelry business group recorded organic revenue growth of 71 per cent in the first half of 2021 compared to the same period in 2020, and five per cent compared to that in 2019 (excluding Tiffany). Profit from recurring operations was up 122 per cent, compared to the first half of 2019 and 27 per cent excluding the Tiffany integration.Bernard Arnault, chairman and CEO, said LVMH had enjoyed "an excellent half-year".

Recent News

Smaller juniors still financed even in more cautious market

January 13, 2025 / www.canadianminingreport.com

Gold stocks shrug off equity market decline on metal gain

January 13, 2025 / www.canadianminingreport.com

Geopolitical risk outlook unclear after US election

January 06, 2025 / www.canadianminingreport.com

Low valuations offer a cushion to mining sector

January 06, 2025 / www.canadianminingreport.com

Polarized gold and iron ore moves, moderate aluminum and copper gains

December 30, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok