French luxury goods conglomerate LVMH Moët Hennessy Louis Vuitton has reported a 19% increase in revenues to €28.1bn for the full year 2012, when compared to figures in 2011.
The revenue increase includes the integration of Bulgari as of June 30, 2011 with organic growth edging up 9% for the fiscal.
LVMH chairman and CEO Bernard Arnault remarked that its brands continue to perform strongly despite the challenging economic environment and slowdown in Europe.
"All of our businesses demonstrated excellent momentum driven by innovation and the quality of their products, thereby strengthening their positions in traditional markets while continuing to develop in new ones that the strong growth amidst struggling market conditions reflect a remarkable year for the chain," added Arnault.
The luxury brand reported a net profit of €3.42bn, up 12% year-on-year, while profits from recurring operations totaled €5.91bn.
Strong momentum in the US and rapid growth in the Asian markets were some of the highlights of the year, said LVMH in a statement.
The brand extended its retail presence to Denmark and Sweden in Europe besides opening first stores in Brazil and India.
LVMH’s jewellery & watches division reported a 46% increase in revenues to €2.83bn for the year while perfumes & cosmetics business grew the slowest at 13%.
Selective retailing returned €854m in profits with the fashion & leather goods business registering the slowest profit growth of 6% for the year.
Looking ahead to 2013, LVMH foresees continued growth across businesses despite the uncertainties in the European market.
"In 2013, LVMH intends to further strengthen its global leadership position in high quality products by relying on its sound, long-term strategy," said Arnault.
