Louis Vuitton India Retail Pvt. Ltd, the Indian unit of LVMH instantly recognizable with its LV monogram and Damier check patterns, clocked over ₹719 crore sales in FY23, up 33% from the previous year’s ₹539.28 crore . Net profit rose 37% to ₹140 crore, up from ₹102.4 crore in FY22. In FY20 and FY19, its net profit had stood at ₹25.3 crore and 16.1 crore, respectively, filings with the Registrar of Companies, accessed through business information platform Tofler showed.
Rival Hermès, which runs its India business through a local partner under Hermes India Retail and Distributors, reported 42% higher sales at ₹249.4 crore in FY23, against ₹175.4 crore the previous year. It clocked a profit of ₹54.3 crore, up 31% from the previous year's ₹41.4 crore. In FY19, it had recorded revenue from operations of ₹109.6 crore and a net profit of ₹18.7 crore. Hermès keeps a very limited production line, controls distribution, and sells exclusive bags like the Birkin and Kelly, all at steep price tags.
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