Business Description
LVMH Moët Hennessy - Louis Vuitton, Société Européenne operates as a luxury goods company worldwide. The company offers champagnes, wines, and spirits under the Clos des Lambrays, Château d'Yquem, Dom Pérignon, Ruinart, Moët & Chandon, Hennessy, Veuve Clicquot, Ardbeg, Château Cheval Blanc, Glenmorangie, Krug, Mercier, Chandon, Cape Mentelle, Newton Vineyard, Cloudy Bay, Belvedere, Terrazas de los Andes, Bodega Numanthia, Cheval des Andes, Woodinville, Ao Yun, Clos19, and Volcan de mi Tierra brands. It also provides fashion and leather products under the Berluti, Celine, Christian Dior, Emilio Pucci, FENDI, Givenchy, Kenzo, Loewe, Loro Piana, Louis Vuitton, Marc Jacobs, Moynat, Patou, and RIMOWA brands. In addition, the company offers perfumes and cosmetics under the Acqua di Parma, Benefit Cosmetics, Cha Ling, Fenty Beauty by Rihanna, Fresh, Givenchy Parfums, Guerlain, KVD Beauty, Kenzo Parfums, Maison Francis Kurkdjian, Make Up For Ever, Marc Jacobs Beauty, Officine Universelle Buly, Parfums Christian Dior, and Perfumes Loewe brands; watches and jewelry under the Bulgari, Chaumet, Fred, Hublot, Repossi, TAG Heuer, Tiffany & Co., and Zenith brands; and custom-designed yachts under the Feadship brand name, as well as designs and builds luxury yachts under the Royal Van Lent brand. Further, it provides daily newspapers under the Les Échos brand; Belmond, a luxury tourism service; home other activities under the Belmond, Cheval Blanc, Connaissance des Arts, Cova, Investir, Jardin d'Acclimatation, La Samaritaine, Le Parisien, and Radio Classique brands; and selective retailing products under the DFS, La Grande Epicerie de Paris, Le Bon Marché Rive Gauche, Sephora, and Starboard Cruise Services brands, as well as operates Jardin d'Acclimatation, a leisure and amusement park. The company operates 5,556 stores. LVMH Moët Hennessy - Louis Vuitton, Société Européenne was incorporated in 1923 and is headquartered in Paris, France.
Key Professionals
| Name | Title |
|---|---|
| Arnault, Bernard | Chairman & CEO |
| Guiony, Jean-Jacques | Chief Financial Officer |
| Kuhn, Bernard | General Counsel |
| Bouillonnec, Yann | Vice President of Sales |
| Gaemperle, Chantal | Group Executive Vice President of Human Resources & Synergies |
| Arnault, Antoine | Group Chief Image & Environment Officer and Director |
| Arnault, Frederic | Chief Executive Officer of TAG Heuer |
| Bazire, Nicolas | Senior VP of Development & Acquisitions and Director |
| Beaufils, Benjamin | President of North American Operations |
| Belloni, Antonio | Group MD & Director |
| Bianchi, Stephane | Head of LVHM's Watch & Jewelry Unit |
| Das, Ipsita | Managing Director of India |
| de Lapuente, Christopher | Chairman & CEO of Selective Retailing Division |
| Guerra, Andrea | Head of Hospitality & Restaurant Business |
| Mukherji, Shantanu | Managing Director od L Catterton |
| Rogers, Ian | Chief Digital Officer |
| Voisin, Jean-Baptiste | Chief Strategy Officer |
| Beccari, Pietro | Chairman & CEO of Louis Vuitton |
| Boillot, Laurent | CEO & President of Guerlain |
| Brocart, Sophie | Chief Executive Officer of Jean Patou |
| Jamet, Marc-Antoine | General Secretary |
| Schaus, Philippe Paul Auguste | Chief Executive Officer of Moët Hennessy - Wines & Spirits Division |
| Toledano, Sidney | Chairman and CEO of the Fashion Group |
| Hollis, Christopher | Director of Financial Communications |
| Stalla-Bourdillon, Bertrand | Group Vice President of Retail Development |
Board Members
| Name | Title | Type | Tenure |
|---|---|---|---|
| Arnault, Bernard | Chairman & CEO | Internal | 1988-Present |
| Arnault, Antoine | Group Chief Image & Environment Officer and Director | Internal | 2006-Present |
| Bazire, Nicolas | Senior VP of Development & Acquisitions and Director | Internal | 1999-Present |
| Belloni, Antonio | Group MD & Director | Internal | 2002-Present |
| Beccari, Pietro | Chairman & CEO of Louis Vuitton | Internal | 2018-Present |
| Toledano, Sidney | Chairman and CEO of the Fashion Group | Internal | 2018-Present |
| de Silguy, Yves-Thibault | Independent Director | External | 2009-Present |
| Gaymard, Clara | Independent Director | External | 2016-Present |
| Valla, Natacha | Independent Director | External | 2020-Present |
| de Croisset, Charles | Lead Independent Director | External | 2008-Present |
| Arthus-Bertrand, Yann | Member of Advisory Board | External | 2019-Present |
| Aumont, Dominique | Employees Representing Director | External | 2020-Present |
| Belloeil-Melkin, Marie-Véronique | Employees Representative Director | External | 2020-Present |
| Chassat, Sophie | Independent Director | External | 2018-Present |
| de Chalon, Marie-Laure Sauty | Independent Director | External | 2014-Present |
| Della Valle, Diego | Member of Advisory Board | External | 2002-Present |
| Gancia, Delphine Arnault | Director | External | 2020-Present |
| Kravis L.L.D., Marie- Josée | Independent Director | External | 2011-Present |
| Mignon, Laurent | Independent Director | External | 2023-Present |
| Powell KCMG, Charles David | Member of Advisory Board | External | 2020-Present |
| Védrine, M. Hubert | Independent Director | External | 2004-Present |
Committees
| Committee | Name | Title |
|---|---|---|
| Audit Committee | Gaymard, Clara | Independent Director |
| de Chalon, Marie-Laure S. | Independent Director | |
| de Croisset, Charles | Lead Independent Director | |
| de Silguy, Yves-Thibault | Independent Director | |
| Compensation Committee | Valla, Natacha | Independent Director |
| Chassat, Sophie | Independent Director | |
| de Croisset, Charles | Lead Independent Director | |
| Kravis, Marie- J. | Independent Director | |
| Corporate Governance Committee | Valla, Natacha | Independent Director |
| Chassat, Sophie | Independent Director | |
| de Croisset, Charles | Lead Independent Director | |
| Kravis, Marie- J. | Independent Director | |
| Other Committee | de Silguy, Yves-Thibault | Independent Director |
| de Chalon, Marie-Laure S. | Independent Director | |
| Gancia, Delphine A. | Director | |
| Védrine, M. H. | Independent Director |
Financial Statements
LVMH's Annual Income Statement
| EUR €, Millions, except for earnings per share data | 2022 | 2021 | 2020 |
|---|---|---|---|
| Period Ending: | 31-Dec | 31-Dec | 31-Dec |
| Revenue | 79,184 | 64,215 | 44,651 |
| Revenue Growth (year to year) | 23.31% | 43.82% | -16.80% |
| Cost of Goods and Services | -24,988 | -20,355 | -15,871 |
| Gross Profit | 54,196 | 43,860 | 28,780 |
| SG&A | -33,178 | -26,722 | -20,433 |
| Income/(Loss) from joint ventures | 37 | 13 | -42 |
| Other operating income and expenses | -54 | 4 | -333 |
| Operating profit | 21,001 | 17,155 | 7,972 |
| Net financial income/(expense) | -888 | 53 | -608 |
| Income Tax Expense | -5,362 | -4,510 | -2,409 |
| Net Income to Company | 14,751 | 12,698 | 4,955 |
| Minority Interest in Earnings | -667 | -662 | -253 |
| Net Income to Stockholders | 14,084 | 12,036 | 4,702 |
| Basic EPS, (EUR) | 28.05 | 23.90 | 9.34 |
| Basic Weighted Average Shares Outstanding | 502,120,694 | 503,627,708 | 503,679,272 |
| Diluted EPS (EUR) | 28.03 | 23.89 | 9.33 |
| Diluted Weighted Average Shares Outstanding | 502,480,100 | 503,895,592 | 504,210,133 |
| EBITDA | 26,720 | 23,280 | 13,780 |
LVMH's Annual Balance Sheet
| Balance Sheet | 2022 | 2021 | 2020 |
|---|---|---|---|
| Assets (EUR millions) | |||
| Non-current Assets | 94,906 | 91,010 | 68,698 |
| Current Assets | 39,740 | 34,301 | 39,973 |
| Total Assets | 134,646 | 125,311 | 108,671 |
| Liabilities and Equities (EUR millions) | |||
| Long-term borrowing | 10,380 | 12,165 | 14,065 |
| Non-current lease liabilities | 12,776 | 11,887 | 10,655 |
| Other non-current liabilities | 23,343 | 24,361 | 19,794 |
| Non-current liabilities | 46,499 | 48,413 | 44,514 |
| Short-term borrowing | 9,359 | 8,075 | 10,638 |
| Current lease liabilities | 2,632 | 2,387 | 2,163 |
| Other current liabilities | 19,552 | 17,527 | 12,517 |
| Current Liabilities | 31,543 | 27,989 | 25,318 |
| Total Liabilities | 78,042 | 76,402 | 69,832 |
| Total Equity | 56,604 | 48,909 | 38,829 |
| Total liabilities and Equity | 134,646 | 125,311 | 108,661 |
| Total Debt | 35,147 | 34,514 | 37,521 |
LVMH's Cash Flow Statement
| EUR €, Millions | 2022 | 2021 | 2020 |
|---|---|---|---|
| Net cash from/ (used in) operating activities | 17,833 | 18,648 | 10,897 |
| Net cash from/ (used in) investing activities | -5,920 | -15,979 | -2,939 |
| Net cash from/ (used in) financing activities | -12,685 | -15,156 | 7,403 |
| Effect of exchange rate changes | 55 | 498 | -1,052 |
| Net increase/ decrease in cash and cash equivalents | -717 | -11,989 | 14,309 |
| Alternative performance measure | |||
| EUR €, Millions | 2022 | 2021 | 2020 |
| Net cash from operating activities | 17,833 | 18,648 | 10,897 |
| Operating investments | -4,969 | -2,664 | -2,478 |
| Repayment of lease liabilities | -2,751 | -2,453 | -2,302 |
| Operating free cash flow | 10,113 | 13,531 | 6,117 |
