Louis Vuitton 2011 Annual Report Download - page 61

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LVMH 2011
Selective Retailing
59 / 68
UPMARKET POSITIONING, RESPONSIVENESS,
GLOBAL PRESENCE
As partners of the biggest brands
around the world, our selective
retailers operate in a highly dynamic
sector that is driven by the rapid
emergence of new markets and the
increasing interest of customers who
have strong product knowledge and
love quality. These retailers have
equal appeal to customers from
dierent parts of the world and from
different cultural backgrounds.
In 2011, DFS, Miami Cruiseline,
Sephora and Le Bon Marché posted
excellent growth in a mixed global
environment.
The watchword shared by our selective
retailers is to keep a step ahead of cus-
tomer expectations and anticipate market
trends. Their strong performance was due
to the strategic focus placed on upmarket
positioning, dierentiation and breaking
new ground in terms of products and ser-
vices. Yet it can also be attributed to the
continued improvement in organization
and excellent responsiveness – critical
factors in a constantly evolving business
sector where growth opportunities must be
acted upon quickly. We owe our success to
these retailers’ professional and dedicated
sta, who are passionate about their trade,
customers and brands.
The DFS Gallerias, pioneers in travel retail,
are a major draw for international travelers,
regardless of destination. The continued
pursuit of a fast-growing Asian customer
base is just one of the vehicles for develop-
ing DFS in the years ahead.
Miami Cruiseline, the premier onboard
store retailer oering luxury products, is
sharpening its competitive edge by tailor-
ing its sales and marketing model to the
company or destination in question. New
customers from Europe and Latin America
are future growth drivers in a market tra-
ditionally dominated by the United States.
Sephora, with its unique talent for turn-
ing shopping into a moment of freedom,
discovery and pleasure, has deployed its
concept in 26 countries around the world.
As a result of a very ambitious innovation
and expansion policy implemented in
2011, the brand has boosted its presence in
Russia, a country with strong potential for
selective retailing, and made important
inroads in Malaysia and Mexico, which is
the gateway to the huge and promising
Latin American market.
Le Bon Marché is today the only Parisian
department store with a genuine cultural
dimension. Its atmosphere and the quality
of its products and services also make it
the most exclusive. In 2012 Le Bon Marché
will be involved in a huge expansion and
refurbishment project which will enhance
its unique profile and increase customer
loyalty.
REVENUE
(EUR millions)
2011
2010
2009
6,436
5,378
4,533
OPERATING INVESTMENTS
(EUR millions)
2011
2010
2009
215
196
181
NUMBER OF STORES
2011
2010
2009
1,368(1)
1,146
1,075
PROFIT FROM
RECURRING OPERATIONS
(EUR millions)
2011
2010
2009
716
536
388
20% France
10% Europe
(excl. France)
36% United States
2% Japan
26% Asia (excl. Japan)
6% Other markets
REVENUE BY GEOGRAPHIC
REGION OF DELIVERY (in %)
(1) Of which 125 additional stores as a result of the integration
of Ile de Beauté.