The famous French house of Louis Vuitton in Greece not only “equalized” the figures of 2019, but also the sales of its subsidiary Louis Vuitton Hellas in 2022 were higher than in the previous “normal” year by 16.37 million euros.
The clothing, accessories and spirits subsidiary not only increased its turnover, but also its net profit, as it invested 6.54 million euros more in its treasury than in 2019.
In particular, the turnover of Louis Vuitton Hellas in fiscal year 2022 was 51.97 million euros, from 25.6 million euros in 2021 and 13.37 million euros in 2020. In 2019, its turnover increased to 35.6 million euros.
Net income also more than doubled compared to 2021, to €15.16 million from €6.84 million in 2021 and €2.03 million in 2020. In fact, it far exceeded 9.15 million euros in 2019.
Higher earnings also boosted dividend amounts for the parent group, as the Board of Directors meeting on November 15, 2022 decided to pay out ex-dividends of €10.8 million and paid out €2.56 million during FY22.
The company’s cash flow was 19.45 million euros, compared to 10.16 million euros in 2021.
In terms of the company’s outlook for this year, management believes that the performance compared to the previous year will be even better if the scenarios for increasing tourist traffic are confirmed, combined with the dynamics presented in the domestic market.
Louis Vuitton Hellas last year hired 46 employees, each of whom received an average salary of 55.6 thousand euros (excluding management). The average number of employees in 2021 was 36 people.
In addition to the shop on Vukurestiou Street in Kolonaki, Louis Vuitton also manages seasonal shop in Mykonos, in the area of Tria Pigadia. This year, seasonal shops will also operate on the island of the winds in the summer. Nammos Village and Zuma restaurant.
According to the information, the well-known luxury goods house will further strengthen its presence in the Greek market, by opening shops in the refurbished Asteras harbor in Vouliagmeni.
Currently, Bernard Arnault, the billionaire owner of the LVMH group with brands such as Zenith International, Hublot, Bulgari, Tag Heuer, De Beers, Belvedere Vodka, Veuve Cliquot Champagne and others, is the richest person in the world, despite a sharp decline in his company’s stock recently.
The French billionaire still has a fortune in excess of $190 billion, while in five months of 2023 he added $29.5 billion to his personal treasury, and the gap with Elon Musk, the second richest man on the planet, has narrowed.
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