Louis Vuitton: Louis Vuitton India retail profit jumps 50% in FY17

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NEW DELHI: LVMH Moët HennessyLouis Vuitton, the world’s biggest luxury goods company, posted an over 50% jump in profit in its retail store business in India in the financial year ended March 2017, overcoming demonetisation and a clampdown on black money, which were expected to dampen sentiment.

LVMH, which sells luxury handbags, fashion and other leather goods and perfumes and cosmetics, reported a profit after tax of over Rs 8 crore compared with Rs 5 crore in the previous year for Louis Vuitton India Retail Pvt Ltd., according to data from the Registrar of Companies sourced from business research platform Tofler. Revenue went up to Rs 178 crore from Rs 167 crore.

Globally, LVMH’s portfolio of brands includes Louis Vuitton, Fendi, Berluti, Christian Dior and Marc Jacobs. In India, it operates brands such as Fendi through separate registered entities. Louis Vuitton India is likely to have included business generated through retail stores in the country and sales from its signature Louis Vuitton handbags. However, LVMH Watch and Jewellery India reported a net loss.

Source: Etretail.com,India

Wednesday, 10 January 2018

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