Loewe SA, the luxury fashion brand owned by LVMH, reported a significant increase in profits for the year 2022. This success can be attributed to the leadership of managing director Pascale Lepoivre and creative director Jonathan Anderson. The company experienced strong performance, with a 37% rise in sales, reaching EUR 626 million. Gross profit also saw a remarkable surge, reaching over 161 million euros, a 92% increase compared to the previous year.
Loewe’s Spanish entity recorded a profit of nearly 128 million euros for the 2022 financial year, representing an 87% growth from the previous year. The company also doubled its operating profit, reaching 170 million euros. These figures indicate the brand’s strong performance, but it’s important to note that they may not fully capture Loewe’s overall activity within the LVMH conglomerate. Nonetheless, they provide a promising indication of the brand’s current success.
In a recent shareholders’ meeting on June 3, Loewe decided to distribute all of its 2022 profits in the form of dividends. Additionally, the company approved a bonus of 15.5 million euros, bringing the total dividends to be distributed to 142 million euros. This decision reflects Loewe’s confidence in its financial performance and its belief that shareholders deserve to benefit from its success.
In terms of expenses, Loewe allocated 266.9 million euros for procurement, a 32% increase from the previous year. Personnel expenses also rose to 29.2 million euros, a 29% increase, while other operating expenses reached 238.5 million euros, a growth of 20.9%.
Overall, Loewe’s impressive financial results highlight the brand’s successful year. With the guidance of its management and the creative vision of Jonathan Anderson, Loewe has solidified its position as a leading luxury fashion brand, achieving strong sales and profits. As part of the LVMH group, Loewe’s success contributes to the conglomerate’s overall performance in the luxury fashion industry.
Useful links:
1. Loewe Official Website
2. LVMH Official Website
