French LVMH, the company which owns brands like Louis Vuitton, has experienced a very strong first half of 2015, with total turnover up nearly 20 %, while profit also went up 15 %.
Strong performance from Louis Vuitton
In the first half of 2015, turnover reached 16.707 billion euro, up 19 % compared to last year when it reached 14.009 billion euro. LVMH's profit grew 15 % to 2.955 billion euro, the strongest growth since the first half of 2012.
Every company branch was able to report positive numbers: turnover for 'Fashion & Leather Goods' grew 18 % to 5.9 billion euro, while like-for-like turnover grew 5 %. Profit for this division grew 12 % to 1.66 billion euro. Louis Vuitton's new product line also performed exceptionally well according to LVMH. The largest growth was for the watches and jewelry division, which grew 23 % in turnover (to 1.55 billion euro) and nearly doubled its profit to 205 million euro.