Louis Vuitton NZ defies retail trends, turns 30% profit

Louis Vuitton's parent company, LVMH, is Europe's second largest. (Image: NZME)

Fri, 07 Jun 2024

Louis Vuitton’s New Zealand operation defied retail tides by bolstering margins, contributing to a 30% profit gain in 2023.In annual earnings lodged with the Companies Office on Thursday, Louis Vuitton NZ made a total comprehensive income of $16.3 million, up from $12.4m in the year to the end of Dec 31, 2022.Revenues grew 11.1% to $92m and net cash from operating activities rose 61% to $21m.During a year in which the margins of other retailers in NZ have contracted, Louis Vuitton’s net profit margin grew to 17.7% from 15%.Inventori...

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