LVMH net profit jumps 156% in 2021
What: LVMH net profit soared 156% year-on-year in 2021, as a better-than-expected fourth quarter (+51% vs 2019) confirmed strong demand for its luxury products.
Why it is important: The luxury conglomerate net profit totaled EUR 12 billion last year, up 68% compared to 2019, beating a FactSet consensus estimate of EUR 10.9 billion.
The growth is reflecting the strength of Louis Vuitton and Dior, as well as a record year for Celine and Fendi.
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