Louis Vuitton India sales and profits surge
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Louis Vuitton India has reported a 24.5-per-cent increase in profit year on year, representing a doubling of income since 2017.
Sales have grown by 41 percent since 2017 with the luxury retailer now operating three stores in the country, at Delhi, Mumbai and Bengaluru.
The growth reflects a strengthening Indian luxury-goods market estimated to be worth about US$8 billion now and growing at a rate as high as 18 percent through to 2023.
Louis Vuitton India’s net profit for the 2019 financial year was ₹16.17 crore (US$2.25 million), over ₹12.98 crores ($1.8 million) for the previous year, according to local regulatory filings.
Globally, the company, LVMH recorded revenue of €53.7 billion last year, up 15 percent year on year.
Meanwhile, LVMH India’s country manager Sunaina Kwatra has announced her intention to resign from the firm’s board.
Questions & Answers
Q.How much has Louis Vuitton India's profit increased compared to the previous year?
How much has Louis Vuitton India's profit increased compared to the previous year?
The luxury retailer's profit increased by 24.5 per cent year on year. Net profit for the 2019 financial year was ₹16.17 crore (US$2.25 million), up from ₹12.98 crores ($1.8 million) the previous year.
Q.What is the current value of the Indian luxury-goods market and its growth rate?
What is the current value of the Indian luxury-goods market and its growth rate?
The Indian luxury-goods market is currently estimated to be worth approximately US$8 billion. It is projected to grow at a rate as high as 18 per cent through to 2023.
Q.How many stores does Louis Vuitton operate in India and where are they located?
How many stores does Louis Vuitton operate in India and where are they located?
Louis Vuitton currently operates three stores in India. These stores are located in the cities of Delhi, Mumbai, and Bengaluru, serving the country's luxury market.
Q.Who is leaving the board of LVMH India?
Who is leaving the board of LVMH India?
Sunaina Kwatra, the country manager for LVMH India, has announced her intention to resign from the firm's board. The article does not state when her departure will take place.
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