LVMH Moet Hennessy Louis Vuitton, the world's biggest luxury goods company, posted over 50 per cent jump in profit in its retail store business in India in the financial year end March 2017, overcoming demonetisation and a clampdown on black money, which were expected to dampen sentiment in the sector.
LVMH, which sells luxury handbags, fashion and other leather goods and perfumes and cosmetics, reported a profit after tax of over Rs 8 crore compared with Rs 5 crore in the previous year for Louis Vuitton India Retail Pvt Ltd., according to data from the Registrar of Companies sourced from business research platform Tofler. Revenue went up to Rs 178 crore from Rs 167 crore.
Globally, LVMH's portfolio of brands includes Louis Vuitton, Fendi, Berluti, Christian Dior and Marc Jacobs. In India, it operates brands such as Fendi through separate registered entities. Louis Vuitton India is likely to have included business generated through retail stores in the country and sales from its signature Louis Vuitton handbags. As per records, Louis Vuitton India Retail was incorporated in November 2002 to sell leather goods, shoes, textiles watches and accessories.