“Resist”. Bernard Arnault, Chairman and Chief Executive Officer of LVMH begins his message in the 2020 Annual Report with a call for fighting spirit. In a truly exceptional year marked by the Covid-19 pandemic, the LVMH Group mobilized with an unprecedented élan of solidarity to help fight the spread of the virus. People at all the Group’s Maisons stepped up with efficiency, initiative and creativity to stay the course and anticipate the recovery.
In a preamble to the report, Bernard Arnault writes “Seize the initiative”. His message continues: “That was my mindset as the effects of the crisis started to become apparent in early 2020, and I did what I could to imbue the whole Group with this fighting spirit. One year on, I am proud to say LVMH has faced up with remarkable resilience to the unparalleled public health crisis that has swept around the world; the commitment shown by all of our teams has been unfailing, and I would like to recognize and thank them for their dedication. Of course, the pandemic has affected all of our activities, albeit to varying extents over different periods and regions. But thanks to the mobilization of their teams, our Maisons responded swiftly, remained focused and kept their strong sense of initiative as they took effective measures delivering immediate results.”
The people of the LVMH Group demonstrated boundless commitment in the face of the global pandemic. Around the world and in France in particular, where the Group has its origins, a myriad of solidarity initiatives were taken. Louis Vuitton, Dior and Givenchy workshops, as well as teams at Kenzo and Celine and Loewe in Spain all came to the aid of health authorities to alleviate the shortage of masks and gowns. Parfums Christian Dior, Guerlain, Parfums Givenchy and Bvlgari in Italy retooled their production facilities to produce tons of hand sanitizer. Thanks to this extraordinary agility, these supplies were distributed free to health care facilities, local government offices, nonprofits and key service providers, as were meals for medical staff. Under the banner #LVMHJOINSFORCES, these and many other actions underlined the LVMH Group’s strong commitment to society.
Alongside their exceptional mobilization, LVMH Maisons brought customers around the world exciting new experiences thanks to their boundless creativity. Throughout 2020 the Maisons proposed stunning invitations to travel. Enchantment filled the Piazza del Duomo in Lecce, Italy for the Dior 2021 Cruise show by Creative Director Maria Grazia Chiuri. Louis Vuitton’s Spring-Summer 2021 Men’s collection by Virgil Abloh embarked on a roving journey from Paris to Tokyo via Shanghai and Miami. The Celine Summer 2021 collection by Hedi Slimane visited Monaco with a celebration of youth. In Grasse, where Parfums Christian Dior preserves and cultivates exceptional flowers, perfumer-creator François Demachy reintroduced the Grasse Tubéreuse, a legendary flower that had disappeared. Fendi’s ambitious “Hand in Hand” initiative showcased amazing Italian savoir-faire from Tuscany to Veneto. Bvlgari celebrated Rome and its baroque style with its Barocko high jewelry collection. TAG Heuer chose New York to unveil its third-generation luxury smartwatch, a symbol of watchmaking expertise and high tech. The Hennessy quays in Cognac were the theater for a daytime firework show bursting with color in the skies above the Charente river and coinciding with the 150th anniversary of the Maison’s iconic X.O cognac. In Paris, Chaumet restored the splendor of 12 Vendôme, the Maison’s historic hôtel particulier. And in Cuba, LVMH launched Eminente, an exceptional Cuban rum. All these events highlight, once again, the extraordinary creativity of LVMH Maisons and their global resonance.
LVMH’s 2020 highlights included a host of social and sustainable development initiatives, a core priority for the Group since its founding. The annual Dîner des Maisons Engagées fundraising dinner went online with “L’Émission Engagée”, pursuing the Group’s social commitment and support for the community. In addition, LVMH Climate Week, a forum for dialogue with all the Group’s employees to share the key priorities of the LIFE 360 program, which will guide environmental initiatives over the next ten years, rallied everyone around a call for action: “Be The Change”.
Looking to the future, the LVMH Group is proud to welcome iconic jeweler Tiffany and its teams as 2021 begins. “In a context that remains uncertain, even with the hope of vaccination giving us a glimpse of an end to the pandemic, we are confident that LVMH is in an excellent position to build upon the recovery for which the world wishes in 2021 and to further strengthen our lead in the global luxury market.” states Bernard Arnault.
Read the interactive version of the 2020 Annual Report.