LVMH posts 16 percent revenue increase in 2011

Luxury group LVMH has recorded a 16 percent increase in revenue reaching $31.2 billion and profit jumped 22 percent to $7 billion in 2011. Specifically for the watches and jewelry segment, revenue nearly doubled to $2.6 billion in large part due to the integration of Bulgari. LVMH reported that organic revenue, which reflects comparable-store sales and exchange rates for the watches and jewelry segment rose 23 percent. After what LVMH classes as ‘an exceptional 2011’, and despite an uncertain economic environment in Europe, LVMH believe it is well-equipped to continue its growth momentum across all business groups and all geographies in 2012.