Luxury goods company LVMH reports higher sales than before pandemic

Business for the French luxury goods group LVMH was better than before the pandemic broke out, according to figures released on Thursday evening.
LVMH's annual revenue rose by almost 44 per cent to 64.2 billion euros (71.5 billion dollars) compared to the previous year, the group said.
The holding conglomerate's brands include Louis Vuitton, Hublot and Givenchy, among others.
In 2019, before the coronavirus pandemic, LVMH was reporting annual sales of nearly 53.7 billion euros.
Demand for fashion and leather goods in particular reached a record level in 2021, the company said in the statement, with sales strongest in the United States and Asia.
LVMH's business is mainly in fashion and leather products, but the group also sells wines and spirits such as Moet or Dom Pérignon, as well as perfumes and cosmetics such as Bvlgari, and watches and jewellery.
The company also surprised the industry with its operating result. Operating profit reached almost 17.2 billion euros, the company said, meaning LVMH earned twice as much as the previous year. This was about half as much as before the pandemic broke out.