L.V.M.H. Moët Hennessy-Louis Vuitton

LVMH Moët Hennessy-Louis Vuitton

1

L.V.M.H.L.V.M.H.Moët Hennessy-Louis VuittonMoët Hennessy-Louis Vuitton


2

Presentation of LVMHPresentation of LVMHMoët et Chandon Chandon Estates Berluti

Christian Lacroix Pommery

Givenchy Guerlain

Sephora Loewe Louis Vuitton

Fred Kenzo Céline

Desfossés Veuve Cliquot

Chaumet DFS

Le Bon Marché Krug

Bliss Dior


3

5 activities5 activities Wines and spirits (16%)Wines and spirits (16%) fashion and leather goods (22%)fashion and leather goods (22%) perfumes and cosmetics (25%)perfumes and cosmetics (25%) selective distribution (35%)selective distribution (35%) watch and jewellery(2%)watch and jewellery(2%)


4

The historyThe history 1971: creation of Moët Hennessy1971: creation of Moët Hennessy 1987: creation of LVMH1987: creation of LVMH 1988: acquisition of Givenchy1988: acquisition of Givenchy 1991: acquisition of Pommery1991: acquisition of Pommery 1993: acquisition of Christian Lacroix and 1993: acquisition of Christian Lacroix and

KenzoKenzo …… 1999: acquisition ofKrug, Château d’Yquem, 1999: acquisition ofKrug, Château d’Yquem,

Bliss, Hard Candy, Chaumet, TAG Heuer...Bliss, Hard Candy, Chaumet, TAG Heuer...


5

The historyThe history 1743: Moët & Chandon1743: Moët & Chandon 1765: Hennessy1765: Hennessy 1780: Chaumet1780: Chaumet 1828: Guerlain1828: Guerlain 1852: Le Bon Marché1852: Le Bon Marché 1854: Louis Vuitton1854: Louis Vuitton 1946: Christian Dior1946: Christian Dior 1996: Bliss1996: Bliss


6

The LVMH’s valuesThe LVMH’s values Creativity and innovationCreativity and innovation Image of qualityImage of quality Dynamism and ambitionDynamism and ambition


7

Current topicsCurrent topics Sales up 16 %Sales up 16 % Operating income up 22 % Operating income up 22 % Net income up 59 %Net income up 59 % Strong recovery in selective Strong recovery in selective

retailing and Asiaretailing and Asia


8

Innovation : a key driverInnovation : a key driver High sucess of new productsHigh sucess of new products Several new launchingSeveral new launching New distribution New distribution conceptconcept


9

Rebalancing of Rebalancing of geographical mixgeographical mix

Asia23%

Europe16%

France16%

ROW7%

USA22%

Japan16%

Asia19%

Japan15%

Europe16%

France20%

ROW8%

USA22%

1998 1999


10

A stronger organization A stronger organization linked to a solid financial linked to a solid financial positionposition

A new management A new management structurestructure A strong balance A strong balance sheetsheet


11

Financial dataFinancial data(In Euro millions)1994 1995 1996 1997 1998

Net sales 4 263 4 539 4 747 7 322 6 936Gross margin 2 747 2 991 3 123 4 572 4 396

Income from operations1 065 1 110 1 070 1 268 1 184Net income from operations 603 639 679 742 525Cash flow from operations 772 904 851 1 163 571

Industrial investments 164 153 160 310 408Stockholder's equity 4 625 4 725 5 288 6 178 6 316


12

Consolidated balance Consolidated balance sheetsheet


13

GearingGearing


14

Dividende / action

(Avoir fiscal inclus)

30,52% 23,95%

Dividende net / action 22,3 Taux de distribution 19,94% 24,53% 29,88%

22,3 20,4

355,31 348,9

26,25

19,25 17,5

33,45 33,45 30,6 28,88

Actif net / action 465,61 446,68 396,99

48,35 46,3

Nombre de titres 88 983 072 Résultat net / action 39,67 55,97 51,46

87 596 460 87 389 712

1995 1994

872 373 200 869 554 900

87 237 320 86 955 490

Capital social 889 830 720 875 964 600 873 897 120

(en FF) 1998 1997 1996


15


16

BibliographyBibliography www.lvmh.frwww.lvmh.fr

Louis Bergeron, (1998),Louis Bergeron, (1998), Les industries du Luxe en FranceLes industries du Luxe en France, ,

Paris, Editions Odile Jacob.Paris, Editions Odile Jacob. Roland Barthes, (1967), Roland Barthes, (1967), Systèmes Systèmes

de modede mode, Paris, Le Seuil. , Paris, Le Seuil.

Documents

L.V.M.H. Moët Hennessy-Louis Vuitton