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Significant product launches and events by LVMH’s Fashion & Leather Brands in H1 2023.
07 August, 2023
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In the first half of 2023, LVMH Moët Hennessy Louis Vuitton garnered a total revenue of €42,2 billion. While comparing with the first half of 2023, the company had a sales growth of 17%. All the categories, except for Wines & Spirits, faced double-digit revenue growth in this period. The profit, driven by the existing operations, has accounted for €1.574 million, up 13% with the operating margin touching revenue’s 27,4%. The net income share of the group was up by 39%, with €8.481 million.
LVMH Moët Hennessy Louis Vuitton announced that Fashion & Leather Goods has done an outstanding job with the star performers like Dior, Louis Vuitton, Loro Piana, Celine, Loewe, and others. They have gained a global-level market share.
Fashion and Leather Goods reported a total profit from the existing operations of €8.562 million, with a 14% increase while comparing the same period in 2022. Brands such as Dior and Louis Vuitton continued their excellence in profitability performance. Its operating margin holds 40,5% of revenue.
The group states that these excellent results are driven by the category’s mixture of innovative aptitude, exceptional craftsmanship, and careful distribution development.
Louis Vuitton performed really well in this period. The artistic director Nicolas Ghesquière’s aesthetic mood and his unique way of combining fashion and architecture have been maintained to elevate the brand’s appeal in womenswear. His fashion shows on the Jamsugyo Bridge in Seoul, Paris’ Musée d’Orsay, and Isola Bella, Lake Maggiore, Italy - were well-received. The brand appointed Pharrell Williams as Creative Director of Menswear. His first show was in Paris’s Pont-Neuf. The event earned huge applause, generating total views of 1,1 billion on social media platforms, setting a new record in the fashion sector.
The brand’s collaboration with the Japanese artist Yayoi Kusama, which began a decade ago, garnered worldwide recognition. The new brand ambassador, actress Zendaya, was featured in the Capucines bag campaign. Jackson Wang and Gisele Bündchen starred in the campaign “Horizons Never End.” Louis Vuitton organised the LV Dream exhibition to pay tribute to its history and Malle Courrier exhibition at the family home of the founder in Asnières. The house partnered with People for Wildlife, a conservation charity in Australia, to protect and maintain the biodiversity of a natural area present in Australia.
In the future, the house is planning to focus on its creative detailing and perfecting all its products. Furthermore, it will aim at the enhancement in reinvention of its popular products, development of quality in its retail sector, and continuation in collaborating with artists.
Christian Dior maintained its growth in all of its categories. Maria Grazia Chiuri has been continuing her work in mingling the cultures and arts around the world. Her work on the Women's Fall 2023 show in Gateway of India, with India’s Chanakya workshops, displayed the country’s authentic traditions and craftsmanship. In Mexico City, she did the 2024 Cruise show at Antiguo Colegio de San Ildefonso, as a commemoration of Mexican culture.
To celebrate his five years as Dior Homme’s Creative Director, Kim Jones hosted a show at École Militaire in Paris, presenting the heritage of the haute couture of Dior. Victoire de Castellane highlights the house's contemporary designs on high jewellery. At Japan’s Museum of Contemporary Art, the brand showcased its Lady Dior bag during the Christian Dior: Designer of Dreams exhibition. It also used upcycled fabrics to decorate its Avenue Montaigne store for the first anniversary of its reopening.
A new Dioriviera collection was launched in a set of pop-up stores throughout the summer. The brand will centralise the matters of opening stores, hosting fashion shows and events shortly.
With Hedi Slimane’s guidance, successful fashion shows, and impactful design, Celine has seen a boost in its appeal. The reason behind this surge is the rigid pace in ready-to-wear, new additions in leather goods over Triomphe and 16 collections, and success in footwear expansion. The brand added a new fragrance named Bois Dormant. Furthermore, the house enhances its marketing activities by pooling in brand ambassadors such as BTS’s V (Kim Taehyung), Lisa from BLACKPINK and South Korean star Park Bo-gum and returning to in-person fashion shows with its men’s collections at Le Palace, Paris. In the coming months, it will be emphasising on refurbishing and developing its stores.
Fendi has recently opened its first Palazzo flagship stores in Tokyo and Seoul, with decor reminiscing its Rome headquarters. Additionally, the brand saw success in its Hand in Hand exhibitions staged in Japan and China and selected its leather goods workshop located in Capannuccia, Tuscany to host Men’s show in June. It will further extend its distribution channels and display its famous products at the stores.
Loro Piana saw success through its Spring/Summer 2023 and Resort collection. With the remarkable performance of the Extra Pocket collection and the Bale bag, the leather goods received over-the-top elevation. It showcased its Gift of King collection too. The brand’s latest Fall-winter line will show Loro Piana’s new range for men. Additionally, the house has developed its first capsule collection with recycled cashmere.
Loewe has continued to grow extraordinarily under JW Anderson’s daring leadership. Its third collaboration with Studio Ghibli earned stellar success in both commercial and media. The house is still in the process to expand its network through product categories and in stores. It recently opened in Casa Dubai and renewed the direct control for its distribution in Thailand.
Marc Jacobs received tremendous growth through its Snapshot and Tote Bag collections, and J Marc and Bucket collections released in 2022. The brand approached its consumers with a stylistic vision and created a major impact on social media. It was expanding its in-store channels in Europe and the United States and accelerated the sales occurring online.
Givenchy owes its directly operated stores for its remarkable growth. Its highlights of the period include the release of the Voyou bag and the sales hike in Shark Lock boot. Kenzo had its FW23 fashion show at Salle Pleyel in Paris and launched its first-ever huge footwear collection, Kenzo-Dome, which earned a profitable beginning. Berluti had an increase in its revenue with the release of its Lorenzo Drive and the Golf capsule collection. The brand is maintaining its plan to expand in China, Japan, and South Korea. Rimowa focuses on enhancing its brand image, product quality, and locations for its retail outlets. It is also working on consolidating its place in travel shopping. To support the budding talents, the brand inaugurated its first Rimowa Design Prize in Berlin. It has joined hands with Germany’s Gewa to create a phenomenal violin case. Camille Miceli staged her first Emilio Pucci show in Florence, the founding place of the brand.
Cover Image: Louis Vuitton Cruise 2023 show, courtesy Business of Fashion.