PARIS — LVMH Moët Hennessy Louis Vuitton said net profit rose 12 percent in 2012, as revenues were boosted by a slight acceleration in sales growth in the fourth quarter despite a challenging economic context.
The French luxury giant said net profit rose to 3.4 billion euros, or $4.40 billion, in 2012 as a whole, compared with 3.1 billion euros, or $4.26 billion, in 2011.
In the fourth quarter, sales advanced 12 percent to 8.2 billion euros, or $10.68 billion, versus 7.4 billion euros, or $9.92 billion, in the year-ago period. Dollar figures are converted from euros at average exchange rates for the periods to which they refer.
In organic terms, revenue growth stood at 8 percent, compared with a 6 percent increase in the third quarter.
LVMH chairman and chief executive Bernard Arnault said “2012 was another remarkable year for LVMH, especially in the context of the economic slowdown in Europe."
The company said it expected another healthy performance in 2013. “Despite an uncertain economic environment in Europe, LVMH is well-equipped to continue its growth momentum across all business groups in 2013,” it said.
In the year ending Dec. 31, revenues for LVMH, the parent of brands including Bulgari, Guerlain, Givenchy, Sephora and Dom Perignon, rose 19 percent to 28.1 billion euros, or $36.13 billion, from 23.7 billion euros, or $32.94 billion, in 2011.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast