Louis Vuitton India has witnessed an impressive profit increase of 24.5 per cent in FY19.
Notably, the net profit has grown double from 2017 to 2019.
As per local regulatory filings, the net profit has jumped from Rs. 12.98 crore in 2017-18 to Rs. 16.17 crore for the year ended 31 March 2019.
The revenue of Louis Vuitton India, which has its stores in Delhi, Mumbai and Bengaluru, too rose by a whopping 41 per cent from 2017 to 2019.
The noteworthy increase yet again reflects brand’s strong and fast growing luxury goods market in the country that’s worth nearly US $ 8 billion and is expected to grow by 18 per cent till 2023.
The fashion brand clocked a rise in profit after tax by Rs. 3.19 crore. Louis Vuitton, meanwhile, has recorded a revenue of €53.7 billion worldwide last year, which is a jump by 15 per cent year on year.