LVMH Sees Big Profits, Dior Gains Despite Galliano’s Demise

LVMH Moët Hennessy Louis Vuitton has recorded significant revenue gains for the first half of 2011.

The world’s largest luxury conglomerate saw revenue of €10.3 billion ($14.9 billion) in the first half of 2011, up 13% from last year. Profits were €2.2 billion, up 22% from 2010.
Bernard Arnault, chairman and CEO of LVMH, credited strong brand appeal, consumer attraction to artisanal products and simple business strategy with prompting the growth.

“The first half was marked by the agreement with the Bulgari family to strengthen the long-term growth of the famous Italian Maison,” Arnault said in a press statement. “We approach the second half of the year … relying upon the creativity and quality of our products as well as the effectiveness of our teams to pursue further market share gains” in both historical and emerging markets.

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New artistic directors at Kenzo

LVMH on Tuesday announced the appointment of Humberto Leon and Carol Lim as artistic directors of the ready-to-wear label Kenzo with immediate effect.
They replace Sardinian designer Antonio Marras, who has held the post for eight years and who shows his own name label in Milan,
“After eight successful years, LVMH and Antonio Marras have decided to end their collaboration,” LVMH said in a statement, without giving details.

“Humberto Leon and Carol Lim will bring to Kenzo the freshness of their creative talent to give a new boost to this emblematic house.
I am sure they will succeed in positioning the brand on the road to an ambitious development,” Pierre-Yves Roussel, chief executive of the fashion division of LVMH, said.
The appointments follow the arrival in January of a new chief executive, Eric Marechalle, at the helm of Kenzo.

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