Louis Vuitton 2015 Annual Report Download

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GROUP
LVMH 2015
—
ANNUAL REPORT

Table of contents

  • Page 1
    LVMH 2015 ANNUAL REPORT GROUP

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  • Page 3
    ...A globally unrivalled group of powerfully evocative brands and great names that are synonymous with the history of luxury. A natural alliance between art and craftsmanship, dominated by creativity, virtuosity and quality. A remarkable economic success story with more than 125,000 employees worldwide...

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  • Page 5
    ...employees proud. A NEW BEDROCK 2015 also marks the first year anniversary of Fondation Louis Vuitton, an expression of our passion for art, culture and freedom that also embodies, in the magnificent building by Frank Gehry, our desire and our long-term commitment to make contemporary creative work...

  • Page 6
    ...year of existence, the IME is already making strides, as it expands the range of professions taught. The courses it offers, designed in partnership with leading trade schools, are showing a great deal of promise. In leatherworking, the entire class of 2014 received hands on training at Louis Vuitton...

  • Page 7
    ..., new geographic locations, expanded manufacturing capacities, store renovations and openings. A WIDE ARRAY OF PROJECTS IN STORE FOR 2016 2016 will feature a wide array of product launches and promising developments. In addition to other creative projects underway at the Group, Louis Vuitton will...

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  • Page 10
    LVMH 2015 - Fondation Louis Vuitton FONDATION LOUIS VUITTON: A NEW SYMBOL OF FRANCE'S CULTURAL CALLING - THROUGHOUT 2015, FONDATION LOUIS VUITTON'S EVER-EXPANDING INITIATIVES AND ARTS-RELATED PROGRAMS MET WITH POPULAR AND CRITICAL SUCCESS. THE FONDATION OPENED IN OCTOBER 2014, AND HAS SINCE ...

  • Page 11
    ... to life the vision of Bernard Arnault and Frank Gehry: "To design, in Paris, a magnificent vessel symbolizing the cultural calling of France." Concert by Lang Lang at Fondation Louis Vuitton, on October 28, 2014. Gilbert & George, Class War, Gateway, 1986 - Pop and Music Exhibition, 2015. 09...

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  • Page 13
    ... business school's Can digital be about more than just online shopping? Luxury customers are highly connected, and for them the digital world means much more than easy online shopping. The Internet and social networks have become new media where they can get information and customized services...

  • Page 14
    ...-term success depends not only on the Group's solid business model and profitable growth strategy, but also on our unwavering commitment to creativity, excellence and sustainability in all of our development and corporate citizenship goals. HUMAN RESOURCES POLICY To encourage all our employees to...

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  • Page 16
    ..., the compensation of company officers, and the establishment of performance share plans. It also approved amendments to various regulated agreements, including with related companies or with companies in which certain Directors hold executive management positions. It also conducted an evaluation of...

  • Page 17
    ... Group Managing Director Nicolas Bazire Development and Acquisitions Bernadette Chirac(2) Nicholas Clive Worms(2)(3) Charles de Croisset(2)(3)(4) Diego Della Valle(2) Albert Frère(2)(4) Marie-Josée Kravis(2) Lord Powell of Bayswater Michael Burke Louis Vuitton Chantal Gaemperle Human Resources...

  • Page 18
    .... The Group is also the world leader in cognac with Hennessy and is expanding its presence in the luxury spirits segment in addition to its historical business. The portfolio of brands is served by a powerful international distribution network. Louis Vuitton, Fendi, Donna Karan, Loewe, Marc Jacobs...

  • Page 19
    ... and offer them the objects of their desire. The LVMH Selective Retailing companies operate in Europe, North America, Asia and the Middle East. Their businesses are conducted in two segments: retailing designed for customers who are international travelers ("travel retail"), with DFS and Starboard...

  • Page 20
    ...REVENUE AND OPERATING PROFIT IN 2015 - _ _ 60 PRESTIGIOUS BRANDS â,¬35.7 bn REVENUE _ _ 70 COUNTRIES â,¬6.6 bn PROFIT FROM RECURRING OPERATIONS _ _ 125,346 EMPLOYEES â,¬3.6 bn NET PROFIT GROUP SHARE _ _ 3,860 STORES WORLDWIDE â,¬3.7 bn FREE CASH FLOW REVENUE (EUR millions) 2015 2014...

  • Page 21
    LVMH 2015 - Financial highlights 2015 REVENUE BY BUSINESS GROUP (in %) 2015 REVENUE BY REGION (in %) 13% Wines & Spirits 35% Fashion & Leather Goods 13% Perfumes & Cosmetics 9% Watches & Jewelry 10% France 18% Europe (excl. France) 26% United States 7% Japan 30% Selective Retailing and Other ...

  • Page 22
    ... life of the men and women who are at the heart of LVMH's success, learn about our iconic designs, as well as the exceptional locations of our Maisons. The site's sober and elegant graphic design embodies the unique identity of the LVMH Group. Practical services and features such as real-time stock...

  • Page 23
    ... asset, and a source of job creation in the countries where they operate. For three days, visitors can tour our workshops, cellars, family mansions, historic stores and more, meeting craftspeople and other employees who are proud to share their passion for their work and their Maisons. Following on...

  • Page 24
    ... NEXT GENERATIONS OF DIGITAL NATIVES, PASSING OUR VALUES AND EXPERIENCE ON TO THEM, WE CAN ENSURE A BRIGHT, LONG FUTURE FOR THE GROUP. OUR SUCCESS IN THIS ENDEAVOR WILL DETERMINE WHETHER LVMH IS ABLE TO SEIZE THE TREMENDOUS OPPORTUNITIES OFFERED BY A DIGITALLY AND GLOBALLY CONNECTED WORLD. 22 / 50

  • Page 25
    ... and creative, enterprising, culturally open-minded and international, and highly motivated by premium quality products and the heritage of luxury goods houses. The Group's appeal as an employer stems in part from the variety of business segments in which it operates and the many different job paths...

  • Page 26
    ... BY AGE 11.9% Under 25 EMPLOYEES BY BUSINESS GROUP(1) (in %) 6% Wines & Spirits 40.8% 25-34 25.9% 35-44 27% Fashion & Leather Goods 18% Perfumes & Cosmetics 6% Watches & Jewelry 14.9% 45-54 6.5% 55+ 41% Selective Retailing 2% Other activities BREAKDOWN OF MEN/WOMEN BY BUSINESS GROUP (Total...

  • Page 27
    ... COMPLEMENTARY CAREER STARTING EXPERIENCES UNDER MY BELT, I REALLY WANTED TO TAKE RESPONSIBILITY FOR DEVELOPING MY OWN PART OF THE BUSINESS, AND I SUCCESSFULLY ASSUMED THE MANAGEMENT OF THE BRAND'S SUBSIDIARY IN MEXICO. NOW I'VE JOINED SEPHORA IN CHINA TO TAKE ON THE NEW CHALLENGE OF A POSITION IN...

  • Page 28
    ...take special care to get to know our employees and to foster their professional development. The personalized support given to them has been improved by upgrading the quality of career discussions and annual interviews, with training for HR and line managers all around the world. The standard yearly...

  • Page 29
    ... organizational change as part of a digital-age strategy to recruit the most digitally savvy people and offer them attractive career prospects. FOSTERING EXCELLENCE IN THE CUSTOMER EXPERIENCE We are also continuing to develop the retail know-how of our global organization. LVMH's retail network...

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    ...Our Maisons owe their success to a high level of expertise - which the Group intends to expand and preserve - in the fields of craftsmanship, design and sales. Announced in July 2014 by Chantal Gaemperle, Group Director of Human Resources and Synergies, the founding mission of Institut des Métiers...

  • Page 32
    ... OUR EMPLOYEES AND COMMUNITIES, BASING OUR RESPONSIBLE EMPLOYMENT AND BUSINESS APPROACH ON RESPECT FOR PEOPLE AND A COMMITMENT TO ACTIVE SOLIDARITY. OUR FOUR KEY PRIORITIES ARE: WELL-BEING AND QUALITY OF LIFE AT WORK, PREVENTING DISCRIMINATION, DEVELOPING ALL TYPES OF TALENT, AND SUPPORTING LOCAL...

  • Page 33
    .... LVMH works alongside leading social change organizations. For example, we endorsed the Women's Empowerment Principles in 2013 and signed a partnership with Agefiph in France to implement disability employment initiatives in 2014-2015. A network of corporate social responsibility correspondents...

  • Page 34
    .... Eight films from seven countries (China, the United States, France, Japan, Russia, Spain and the United Kingdom) - showcasing eight successful social and workforce inclusion initiatives for persons with disabilities in different parts of the Group - were shared with a wide audience of...

  • Page 35
    ... encourage young fashion designers. This initiative celebrates the values of our Group. Our designers will select promising talents of tomorrow who will receive prizes and support to develop their label. Our goal is to nourish the vitality and creativity of the fashion ecosystem on an international...

  • Page 36
    .... Scope: Wines & Spirits, Louis Vuitton, Loro Piana, Berluti, Donna Karan, Fendi, Givenchy Couture, Loewe, Marc Jacobs, Céline, Thomas Pink, Rossimoda, Bvlgari, Fred, Hublot, TAG Heuer, Zenith, De Beers, Perfumes & Cosmetics (incl. Parfums Christian Dior, Guerlain, Benefit, Fresh, Make Up For Ever...

  • Page 37
    ... suppliers with production workshops in that country. The goals were to present the responsible purchasing standards of LVMH and its Maisons, hear feedback from suppliers who had achieved improvements by working more closely with our Maisons, and hold workshops so that participants could share best...

  • Page 38
    ... OVERARCHING PROGRAM - AND CREATE A SHARED DYNAMIC THAT WOULD IMPROVE OUR ENVIRONMENTAL PERFORMANCE. TODAY, LIFE IS AN INTEGRAL PART OF THE GROUP'S OPERATIONS, ENDORSED BY THE PRESIDENTS OF THE MAISONS AND INCORPORATED INTO THEIR STRATEGIC PLANS. IT IS CHAMPIONED AND PRACTICED BY EMPLOYEES FROM...

  • Page 39
    ... taking action in the _ "AT DIOR, WE BELIEVE THAT SUSTAINABLE LUXURY IS ABOUT BEAUTIFUL OBJECTS, OBJECTS THAT YOU WANT TO HOLD ON TO. THAT IS WHY, FOR SEVERAL YEARS NOW, WE HAVE BEEN INTRODUCING REFILLABLE PACKAGING FOR OUR SKINCARE LINES - STARTING WITH PREMIUM PRODUCT RANGES LIKE L'OR DE VIE AND...

  • Page 40
    ... issues. The LIFE program has given ENERGY CONSUMPTION BY BUSINESS GROUP (in %) Energy consumption in 2015: 27% Wines & Spirits 23% Fashion & Leather Goods 9% Perfumes & Cosmetics 3% Watches & Jewelry 36% Selective Retailing 2% Other activities 795 GWh *Stable compared to 2014 at constant scope...

  • Page 41
    ... REPAIRABLE PRODUCTS 9 / WELL-HANDLED CLIENTS' REQUESTS IN RELATION WITH ENVIRONMENT Priorities THE DYNAMICS OF THE LIFE PROGRAM In 2015, all of our Maisons incorporated the LIFE program into their strategic plans and Group-level goals for the next five years will provide additional support. LIFE...

  • Page 42
    ...-efficient buildings, marketing and product development specialists tackling eco-design, procurement teams setting up sustainable supply chains for natural raw materials, the finance department starting an internal pricing for carbon usage and the communications department orienting new employees...

  • Page 43
    ...in making our products. LVMH has enhanced its LED know-how by training and informing employees and launching the new lvmhlighting.com website, where architects can purchase the best available technology. We have expanded our sponsorship initiatives, joining forces with the Paris mayor's office, for...

  • Page 44
    ... to make their shops as energy-efficient as possible, use more renewable energies and inject greater responsibility into the logistics chain. To take the implementation of LIFE to the next level, our latest innovation, launched in November 2015, was to set up our first ever internal carbon pricing...

  • Page 45
    ...such initiatives, such as Louis Vuitton's ISO 14001 environmental certification for its Leather Goods and Accessories supply chain, the cutback on air freight by LVMH Fragrance Brands, and the use of electric vehicles by Guerlain and Sephora to make green deliveries. COP21 was also a high point for...

  • Page 46
    ... ALLOWING EACH TO EXPRESS ITS OWN PERSONALITY AND IMAGE. IT IS ALSO PRACTICAL, BECAUSE LVMH INTENDS ITS INITIATIVES - ON BEHALF OF CULTURE AND ARTISTIC CREATION, EDUCATION AND YOUNG PEOPLE, AND MAJOR HUMANITARIAN CAUSES - TO ILLUSTRATE WHAT IT MEANS TO BE A SOCIALLY RESPONSIBLE BUSINESS. 44 / 50

  • Page 47
    ...-house team, like the London-based Canadian designer Thomas Tait, who won in 2014. INITIATIVES FOR YOUNG PEOPLE In 2015, LVMH renewed its support for the International Music Academy founded by conductor Seiji Ozawa, who gave his master classes right in the auditorium of the Fondation Louis Vuitton...

  • Page 48
    ... revenue TOTAL SHAREHOLDER RETURN An LVMH shareholder who invested â,¬1,000 on January 1, 2011 would have a capital of â,¬1,452 on December 31, 2015, based on reinvested dividends. That is a compound annual growth rate of around 8% over five years. CONTACTS Investor and Shareholder Relations...

  • Page 49
    ...,642 (1) Total number of voting rights that may be exercised at Shareholders' Meetings. 13.5% French institutional investors LVMH STOCK MARKET DATA(1) (in euros) High (mid-session) Low (mid-session) Year-end share price Change during the year (%) Change in the CAC 40 (%) Market capitalization at...

  • Page 50
    ... Organic growth(1) +6% +4% +7% +8% +5% - PROFIT FROM RECURRING OPERATIONS BY BUSINESS GROUP (EUR millions) Wines & Spirits Fashion & Leather Goods Perfumes & Cosmetics Watches & Jewelry Selective Retailing Other activities and eliminations TOTAL LVMH 2015 1,363 3,505 525 432 934 (154) Change +19...

  • Page 51
    ... 67% of total assets, compared with 66% as of year-end 2014. This increase was due to the revaluation of purchase commitments for minority interests and exchange rate ï¬,uctuations. Inventories represented 18% of total assets. Further information can be found in the 2015 Reference Document...

  • Page 52
    ... - Louis Vuitton Malletier, Mazen Saggar - Lorenzo Castore - Picture libraries of LVMH and Group's Maisons. This report was printed on paper from sustainably managed forests, certified FSC (Forest Stewardship Council). . Design and production: LVMH - 22, avenue Montaigne - 75008 Paris - France Tel...

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    LVMH 2015 ANNUAL REPORT BUSINESS REVIEW

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    ... Positive impact of exchange rates • Good performance of Wines and Spirits in all regions with a progressive normalization of the situation in China • The success of both iconic and new products at Louis Vuitton, where profitability remains at an exceptional level • Progress at Fashion brands...

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    LVMH 2015 WINES & SPIRITS

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    ... our customers as they change upmarket strategy. In 2015, UNESCO designated too, our people are constantly on the lookout the Champagne region's hillsides, production for new opportunities. From product design to houses and cellars as a World Heritage site. The marketing and distribution, creativity...

  • Page 61
    LVMH 2015 - Wines & Spirits Dom Pérignon - Hautvillers Abbey 05 / 42

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    ... 2013 152 186 233 SALES VOLUMES - CHAMPAGNE (in millions of bottles) 2015 2014 2013 61.4 59.6 57.4 SALES VOLUMES - COGNAC (in millions of bottles) 2015 2014 2013 76.0 70.4 69.1 MAJOR STRATEGIC PRIORITIES Pursue value creation strategy. Target balanced and sustainable growth. Develop production...

  • Page 63
    ... developed and expanded its product range with the launch of a Blanc de Noirs cuvée. RUINART continued to focus on premium cuvées and its strong ties to contemporary design. The brand strengthened its position in France and accelerated its international expansion with solid growth in all regions...

  • Page 64
    ... in Japan and the Asia-Pacific region. ESTATES & WINES had a good year, with excellent performance from the CHANDON brand and promising developments at newly established estates (China, India). The 2015 harvest was of exceptional quality at all northern-hemisphere vineyards, signaling the arrival...

  • Page 65
    ... of high-potential markets. The reinforcement of manufacturing capabilities, necessary to maintain the highest standard of quality, will remain a strategic priority. For example, as part of its business development strategy, Hennessy has begun building a new packaging and shipping center that...

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  • Page 67
    LVMH 2015 FASHION & LEATHER GOODS

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    ... of the winter 2015-2016 exhibition at the Grand Palais in Paris, immersing visitors in the history and the captivating universe of Louis Vuitton. A symbol of travel since it was founded in 1854, Louis Vuitton thrives on exploring new horizons and creating emblematic designs to accompany a world in...

  • Page 69
    LVMH 2015 - Fashion & Leather Goods Fendi - New headquarters in Rome 13 / 42

  • Page 70
    ... (excl. Japan) 8% Other markets OPERATING INVESTMENTS (EUR millions) 2015 2014 553 585 629 NUMBER OF STORES 2015 2014 2013 1,339 1,566 1,534 2013 MAJOR STRATEGIC PRIORITIES Continue strategic development of Louis Vuitton. Strengthen image and profitable growth of other fashion brands. 14 / 42

  • Page 71
    ... at emblematic locations, dovetailing with specific products and store openings: runway shows at the Fondation Louis Vuitton in Paris and at Bob and Dolores Hope's villa in Palm Springs, California; exhibitions related to the Maison's collections and history; and a presence at various arts and...

  • Page 72
    ..., developed its store network, and cultivated a strong digital dimension. DONNA KARAN and MARC JACOBS continued the strategic repositioning of their collections and consolidated their organizations. Donna Karan entrusted the creative directorship of DKNY women's ready-to-wear to New York designers...

  • Page 73
    ... all closely related to the brand's latest news. Louis Vuitton will continue to enhance the quality of its retail network and will pursue initiatives aimed at offering its customers an exceptional experience and quality of service through a global approach encompassing both in-store and digital...

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    LVMH 2015 PERFUMES & COSMETICS

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    ... international business development strategy. La Ruche, Guerlain's new skincare and make-up manufacturing facility, is supporting the brand's expansion and showcasing its environmental and social engagement. Guerlain also served as an incubator for the new environmentally responsible cosmetics brand...

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    LVMH 2015 - Perfumes & Cosmetics Guerlain 21 / 42

  • Page 78
    ...41% Perfumes 40% Make-up 19% Skincare products 229 221 229 NUMBER OF STORES 2015 2014 2013 123 162 203 MAJOR STRATEGIC PRIORITIES Maintain aggressive policy on innovation and media investments. Build on advance of Parfums Christian Dior in connection with Couture. Support international development...

  • Page 79
    ... success; and Dior Homme, which delivered growth in the world's main national markets. Dior developed its collections by re-releasing the iconic amphora bottle and a new exceptional fragrance, Fève Délicieuse, designed by its perfumer François Demachy for La Collection Privée Christian Dior...

  • Page 80
    ... new skincare and make-up manufacturing site in Chartres, is an asset to cosmetics development and a symbol of Guerlain's long-term commitment to high quality, eco design and the transmission of know-how in France's Cosmetic Valley. PARFUMS GIVENCHY made progress with support from all of its product...

  • Page 81
    .... In a few strategic countries, Kenzo Parfums will launch a new and highly creative product line in keeping with the spirit of the Fashion house. Benefit, Make Up For Ever, Fresh, and Acqua di Parma will continue to affirm their creative focus, reinforce the one-of-a-kind market positioning that has...

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  • Page 83
    LVMH 2015 WATCHES & JEWELRY

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    ... own brand boutique networks, and improving store concepts to elevate the customer experience. At the end of 2015, to bolster its business development, the Italian jewelry house Repossi forged an alliance with LVMH, which became a minority shareholder. This collaboration will give more international...

  • Page 85
    LVMH 2015 - Watches & Jewelry Bvlgari 29 / 42

  • Page 86
    ... (excl. Japan) 17% Other markets MAJOR STRATEGIC PRIORITIES Gain market share through creativity and innovation. Reinforce Maisons' image with expert craftsmanship and quality distribution. Continue positive momentum of Bvlgari and refocusing of TAG Heuer on core product ranges. Optimally develop...

  • Page 87
    ... to make watch retailers prudent in their purchasing decisions. The boutiques achieved solid growth thanks to the success of their iconic product lines and the creativity of new offerings. The brands focused on building their reputations and invested selectively in their distribution networks and...

  • Page 88
    ... G.E.M. HUBLOT kept up its high rate of growth, driven by the Classic Fusion line and the emblematic Big Bang, which turned 10 years old in 2015. The brand illustrated its creativity and value strategy with many new fine timepieces. The opening of a second manufacturing facility in Nyon reinforced...

  • Page 89
    ... The Watches and Jewelry business group is actively pursuing its market share growth targets. Its masterful watchmaking and jewelry-making expertise, the creativity of its products and the brands' reputation and image of excellence remain the key vectors of its momentum and its future development...

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  • Page 91
    LVMH 2015 SELECTIVE RETAILING

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    ... the way in digital innovation year after year with its online shopping websites, in-store digital initiatives, and omni-channel approach. In 2015, Sephora Flash - the first smart store - opened its doors in Paris. The concept offers a totally new customer experience, bringing online and brick and...

  • Page 93
    LVMH 2015 - Selective Retailing Sephora 37 / 42

  • Page 94
    ... OPERATIONS (EUR millions) 2015 2014 2013 934 882 908 29% Asia (excl. Japan) 9% Other markets OPERATING INVESTMENTS (EUR millions) 2015 2014 399 389 389 NUMBER OF STORES 2015 2014 2013 1,679 1,614 1,541 2013 MAJOR STRATEGIC PRIORITIES Continue Sephora's dynamic innovation in stores and digital...

  • Page 95
    ... a promising start. Expansion continued with close to 100 openings throughout the world in 2015. Several ï¬,agship stores such as the Mall of the Emirates store in Dubai and the Powell Street store in San Francisco were renovated to enrich customers' digital and service experience. Online sales kept...

  • Page 96
    LVMH 2015 - Selective Retailing La Grande Épicerie de Paris Accessories department, which was also boosted by the good results achieved in Watches and Jewelry. The ongoing transformation of the Women's Fashion space generated strong growth in this segment. Two highlights of the year at Le Bon ...

  • Page 97
    ... the quality of its customer care. The launch of La Grande Épicerie de Paris's own brand will be a major event in 2016, while the Franck et Fils store will close its doors to prepare for the 2017 opening of another Grande Épicerie de Paris on the city's right bank. Backed by its highly responsive...

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    LVMH 2015 ANNUAL REPORT MAISONS

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  • Page 103
    ... celebrations, where Louis Vuitton, a craftsman trunk-maker, invented modern luggage. And the Group's oldest brand is Château d'Yquem, which was established in 1593. Today, as the world's leading luxury goods group, LVMH is the result of successive alliances among companies that, from generation...

  • Page 104

  • Page 105
    LVMH 2015 HISTORY & HERITAGE - A PLACE, A CITY, A BUILDING, AN OBJECT: THE MEMORY OF A MAISON CAN TAKE ON A THOUSAND DIFFERENT FORMS. BUT THEY ALL ECHO THE VITAL IMPORTANCE OF PROTECTING, RESTORING AND SHARING THIS HERITAGE, IN HOMAGE TO THE TALENTS OF GENERATIONS PAST, AND AS A PRECIOUS GIFT TO ...

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  • Page 107
    ... made for traveling and history is made to be told, Louis Vuitton is also the subject of an exhibition at the Grand Palais, in Paris, entitled "Volez, Voguez, Voyagez - Louis Vuitton". The exhibition chronicles the Maison's history from 1854 to the present, through stories of the company's founders...

  • Page 108
    ...of its work sites and the efforts of its local men and women, has taken to new heights the production and sales methods that shaped the region and its rural landscapes, giving rise to the world-renowned sparkling wine that bears its name. Three remarkable sites are included in the UNESCO designation...

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  • Page 111
    ...Nanni, the monument now houses Fendi's offices, as well as its fur workshop, the heart of the firm's expertise. Fendi has made a point of opening the palazzo's second ï¬,oor (a thousand-square-meter space designed to host art exhibitions) to the public. ''This building, its history, proportions and...

  • Page 112

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    LVMH 2015 CRAFTSMANSHIP & QUALITY - QUALITY IS AT THE ORIGIN OF TRUE LUXURY. IT CANNOT BE SUMMONED ON COMMAND: IT IS OBTAINED THROUGH PATIENCE AND EFFORT, BY PAYING CLOSE ATTENTION TO EVERY STEP OF PRODUCTION, BY SLOWLY MASTERING A CRAFT HANDED DOWN FROM GENERATION TO GENERATION, CONSTANTLY BEING ...

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  • Page 115
    ...the different manufacturing steps at a single site, ensuring a welldefined process and optimal working conditions for the artisans. To preserve its trades and take full advantage of the setting provided by this new facility, Berluti will also make it the home of the Berluti Academy training program...

  • Page 116
    ...materials for its perfumes. Zesty, ï¬,oral and fruity, the San Carlo bergamot orange is organically grown in the Calabria region of southern Italy, exclusively for Dior. Its unique, suntinged quality, part of all the Maison's fragrances, is essential to Dior's scent signature. Sensual and enveloping...

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  • Page 119
    ... edge." As a sign of this commitment, the future Bvlgari complex in Valenza will employ nearly seven hundred people, and will be home to the Bvlgari Academy, where the company will scout, train and hone the skills of talented young people from Italy's finest jewelry-making schools. 17 / 44

  • Page 120
    ... process, goatherds have been able to produce large annual volumes of high-quality fiber, also increasing their own income. At the end of 2015, this experiment culminated in the first Loro Piana Cashmere of the Year Award, to be handed out annually to the highest quality producers. The objective...

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    LVMH 2015 INSPIRATION & CREATION - BACKED BY A SOLID IDENTITY AND TIME-HONORED FUNDAMENTALS, THE GREATEST MAISONS ARE KNOWN FOR THEIR ABILITY TO REINVENT THEMSELVES FOR EVERY ERA, EVERY SEASON OFFERING INNOVATIVE NEW CREATIONS THAT TRANSCEND FASHIONS AND EMBODY THE SPIRIT OF THE TIMES.

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  • Page 125
    ... and global success. The exhibition will stop in several key countries with close ties to Hennessy: China, Russia, the United States and South Africa, before opening its doors in Cognac, the heart of Hennessy, in May 2016. From the Guangzhou Opera House, in China, to New York's Lincoln Center and...

  • Page 126
    ... a bold plan. On November 16, 2009, the entire product offering in the Céline stores was changed to make way for Philo's spring 2010 collection. Céline was transformed overnight. A new wardrobe for women - ready-towear, jewelry, bags, coats - was produced to the highest possible standards while...

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    ... & Creation TAG HEUER, THE FIRST CONNECTED WATCH DEVELOPED BY A SWISS LUXURY WATCHMAKER - In November 2015, at the LVMH Tower in New York, TAG Heuer unveiled an innovation developed in close collaboration with Intel and Google: the first connected watch designed by a Swiss luxury watchmaker. TAG...

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    LVMH 2015 EXPERIENCE & INNOVATION - THE AVANT-GARDE AS A TEST OF LONGEVITY: THE SIGNATURE OF THE GREAT MAISONS IS AND ALWAYS HAS BEEN THEIR CAPACITY TO ENVISION NEW SERVICES TO CONSTANTLY STRENGTHEN THEIR RELATIONSHIPS WITH THEIR CUSTOMERS. ALWAYS STAYING ONE STEP AHEAD TO SURPRISE THEM AND OFFER ...

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    ... about customers, trends, and changes within the sector. The Maison founded in 1854 is still committed to innovation, which is part of its DNA. The Louis Vuitton passion for excellence translates into disrupting business as usual and throwing the workshop doors open to the online world - a digital...

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    ... the company, be it via social media, in-store customer experience, or the family culture propagated among employees. While the vision of the brand is global, the organization remains lightweight and agile, instilled with a start-up spirit where every encounter on any level ultimately feels personal...

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    LVMH 2015 - Experience & Innovation SEPHORA, BOUTIQUES AND DIGITAL: THE BEST OF BOTH WORLDS - With the opening of nearly a hundred new stores in 2015, Sephora's strong growth momentum continues. This rapid development is the result of a range of innovative and exclusive products and services. ...

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    ... online presence is used to engage Benefit's customers and develop a sense of community among "Benebabes", whose numbers grow by the day. Benefit has a 70-person social-media and digitalcontent team, including their global team of 9 designers, 8 web developers, 7 digital marketers. In early 2016...

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    ... market-expansion strategy. In 2015, the House celebrated its 250th anniversary, and is currently the world's best-selling French spirits brand. In addition to this stunning commercial success, Hennessy cognac, now sold in over 130 countries, embodies the French art de vivre and symbolizes time...

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    ... shaped the story of Louis Vuitton. Faithful to its heritage, Louis Vuitton has opened its doors to architects, artists and designers across the years, all the while developing disciplines such as ready-towear, shoes, accessories, watches, jewelry and stationery. These carefully created products are...

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    ... for quality, tradition, experimentation and creativity. Since 1908 The Les Echos group works in four key areas: News & Business Media (Les Echos, Les Echos Week-End, Série Limitée), Finance & Financial Markets Media (Investir and Capital Finance), Corporate services, Art & Classical Music Media...

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    ...region. GIVENCHY Since 1952 Givenchy, founded in 1952 by Hubert de Givenchy, is a luxury goods house known worldwide for its haute couture, ready-towear, and men's and women's accessory collections. Since 2005, Riccardo Tisci has been its Creative Director of haute couture, ready-to-wear and women...

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    ... state-of-the-art products and keep up with new trends. With its stylish retail locations, exceptional service and unique approach, Sephora has become an indispensable name in beauty. Since 1975 Like Maison Dior's other collections, Dior timepieces are conceived in Paris, in the design studios on...

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    ...the Maldives, St Barth and soon Paris - just to name a few. Designed to deliver the luxury of time, the Maisons call upon the treasures of imagination to make each stay an unforgettable experience. FRESH Since 1991 Lev Glazman and Alina Roytberg opened their apothecary shop in 1991 in Boston. They...

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    ...line - TAG Heuer - Louis Vuitton Malletier, David Maurel - Kenzo - Sephora, Yvan Matrat - Benefit Cosmetics - Picture libraries of LVMH and Group's Maisons. This report was printed on paper from sustainably managed forests, certified FSC (Forest Stewardship Council). . Design and production: LVMH...

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