LVMH recaps 2021 highlights and confirms commitments with publication of Annual Report and Social and Environmental Responsibility Report
With the publication of its Annual Report and Social and Environmental Responsibility Report, LVMH details the strategy pursued by the Group in 2021 while showcasing the many initiatives that embody an unwavering commitment to positive impact. The documents once again confirm that, beyond business performance, LVMH is deeply committed to exemplary social, environmental and cultural responsibility.
“Steadfast and determined”, this is the way Bernard Arnault, Chairman and Chief Executive Officer of LVMH, starts the Annual Report before continuing: “LVMH navigated the uncertainties of 2021 without ever deviating from its long-term course: excellence, creativity and commitment. LVMH achieved a remarkable performance in 2021. In a year that was once again heavily affected by the pandemic, thanks to our teams’ hard work and unflagging enthusiasm – which I wholeheartedly applaud – our Group more than weathered the storm. Our results are excellent: we delivered strong growth that surged even higher in the fourth quarter, and we continued to expand our ever-growing lead. If I may draw a parallel with cycling: the Tour de France is not won on the flats in fine weather, but on the steepest slopes, facing storms and headwinds – that’s when the champions pull ahead.”
Throughout the year, the talented people of LVMH Maisons once again rose to the challenge with exceptional adaptability, innovation and prolific creativity as they affirmed the Group’s strong commitment to society, the environment and culture. The many highlights of 2021 embody the creative passion of the Group’s Maisons and their uniquely talented employees.
The Wines & Spirits business group confirmed its momentum and creativity, including the success of Chandon Garden Spritz and Frank Gehry’s reinterpretation of the iconic Hennessy X.O decanter to mark the 150th anniversary of the celebrated cognac.
In Fashion & Leather Goods, the dialogue between tradition and modernity continued with Louis Vuitton’s inauguration of two new precious leather workshops in Vendôme and Maria Grazia Chiuri’s runway show in Athens for the Dior Cruise 2022 collection.
Perfumes & Cosmetics welcomed a new star to its constellation, Officine Universelle Buly, while Parfums Christian Dior invited renowned architect and designer India Mahdavi to redesign one of its most emblematic perfume bottles, the iconic J’adore amphora.
In Watches & Jewelry, Tiffany & Co., which joined LVMH in 2021, launched the spectacular “About Love” campaign starring celebrated couple Beyoncé and Jay-Z. TAG Heuer and Porsche, two icons of design and innovation, launched the stunning TAG Heuer Carrera Porsche chronograph to celebrate their longstanding friendship.
Selective Retailing saw much-awaited openings. After a renovation both ambitious and faithful to the history of the place, the Samaritaine Paris Pont-Neuf reopened its doors to the delight of Parisians and travelers alike. Shortly afterwards, the Cheval Blanc Paris hotel opened a new haven of elegance and sophistication, including the three-star restaurant Plénitude, under the masterful creativity of Chef Arnaud Donckele and his team.
The LVMH Social and Environmental Responsibility Report spotlights its environmental and cultural responsibility policy, presenting the myriad actions taken by both the Group and its Maisons.
In her editorial presenting our social responsibility, Chantal Gaemperle, Group Executive Vice President, Human Resources and Synergies, emphasizes that “we owe our success to the talented and passionate people of our Group.” This dynamic community of 175,000 employees experienced record growth in 2021, counting Tiffany & Co and recruiting new staff at a sustained pace. LVMH onboarded more than 45,000 newcomers in 2021 – an increase of 9% compared with 2019 – and 25,000 early career professionals under the age of 30 will be hired by the end of 2022. The social responsibility section of the report details key policy priorities with numerous examples of positive impact actions: respecting each person’s dignity and individuality, ensuring the safety and well-being of our employees, passing on our know-how which is a part of the World Heritage.
Among these examples, the LVMH Métiers d’Excellence program underlines the priority placed on training and passing on unique skills. Celebrating the Group’s 280 exceptional métiers in creative, craft and sales experience professions, LVMH has pursued an array of initiatives to shine a light on the people who practice these extraordinary skills and ensure that they thrive with new generations. This approach was symbolized by the signature of the “WE for ME” (Worldwide Engagements for Métiers d’Excellence) pact by members of the LVMH Executive Committee and the CEOs of the Maisons, marking our commitment to recognizing and promoting these highly skilled professions.
Also in the report, LVMH notes the creation of a corporate Diversity & Inclusion office, clearly signaling a belief in an inclusive, respectful and merit-based working culture that gives everyone a potential to express their potential. Among other key initiatives in 2021 to support staff were the signature by members of the Executive Committee and Maison CEOs of the Health and Safety Policy, designed to ensure a safe and fulfilling work environment by balancing quality of life at work and performance, and the creation of the LVMH Heart Fund, launched in June 2021 to make emergency support available for LVMH’s 175,000 employees in over 80 countries.
Environmental policy, overseen by Antoine Arnault, Image & Environment, and led by Hélène Valade, Environment Development Group Director, figures prominently in the 2021 Social and Environmental Responsibility Report. The report presents progress in achieving the ambitious objectives of the LIFE 360 program, which was actively deployed in 2021 around four pillars: creativity circularity, biodiversity, climate and traceability. Among the most significant results and emblematic of LVMH’s commitment was aligning the Group’s trajectory with the carbon trajectory of 1.5° approved by the international Science Based Target Initiative (SBTi). The report presents detailed indicators corresponding to the many concrete actions taken in 2021 by LVMH Maisons, along with measures spearheaded by LVMH during events such as COP26 in Glasgow and the IUCN World Conservation Congress in Marseille. Key international forums and round tables gave LVMH a chance to contribute its voice alongside its partners, notably UNESCO.
For the first time, the Social and Environmental Responsibility Report features a specific section presenting the numerous initiatives taken by LVMH to support art and culture, including actions to broaden awareness of different artistic practices. The premier event of 2021 was no doubt the exceptional exhibition of the Morozov Collection at the Fondation Louis Vuitton in Paris.
Read the interactive version of the 2021 Annual Report.