SOLID FUNDAMENTALS,
GETTING STRONGER STILL
The climate at the beginning of 2015 remains mixed. The economic horizon seems
to be clearing up and the monetary situation improving. Solid European economic
growth, however, has yet to arrive, and geopolitical disruptions are still creating
uncertainty.
In a multipolar, ever-changing and yet also highly interconnected world, LVMH enters
the next few years in an even more robust position than before, and can depend
on the agility of its organization to help it rise to new challenges and seize the best
opportunities for growth and market share gains. Our fundamentals are stronger
thanks to the Maisons that have found the keys to lasting success, such as Fendi
and Céline, as well as those that joined our Group recently: Bvlgari, a jewelry house
of singular style, which has blossomed over its fi rst four years at LVMH; and Loro
Piana, master of the world’s most exquisite materials and fabrics, fresh from its fi rst
year in the Group. These Maisons share our culture of excellence and creativity.
They provide us with new exceptional savoir-faire, an additional source of growth
potential. They also share the sense of family and entrepreneurial spirit which we
have preserved in LVMH’s management culture; which sustains the Group’s success
and that of its Maisons over the long term.