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Luxury goods group Louis Vuitton Moët Hennessy (LVMH) has posted record results in 2021. Total sales increased by 44 per cent compared to 2020 and by 20 per cent compared to 2019 to 64.2 billion euros. Fashion and leather goods was the strongest division, up 47 per cent. The wines and spirits group saw sales grow 26 per cent in 2021 compared to 2020 and nine per cent compared to 2019, with profits up 34 per cent compared to 2020. Champagne sales grew significantly, especially in the US and Europe, while demand for cognac and spirits also increased in Asia.
LVMH attributes the success to its "strategy of increased value creation", bypassing the impact of supply shortages. In addition to the champagne houses Moët Chandon, Veuve Cliquot, Krug and Dom Pérignon, the best-known brands include the Bordeaux châteaux Cheval Blanc and d'Yquem, the Cloudy Bay and Newton wineries, as well as Belvedere vodka and Cognac Hennessy.
(al / source and photo: LVMH)
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Champagne sales set new record in 2021