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