Student
LV M H
2002
ANNUAL REPORT 2002
laying the foundations for long-term prosperity by Bernard Arnault SUSTAINABLE DEVELOPMENT
meeting the challenge with confidence and responsibility
TRADES
strong growth of star brands, increase in market share
INNOVATION
research and creativity enhance the successes of the Group.
PASSIONATE ABOUT CREATIVITY
PASSIONATE ABOUT CREATIVITY TABLE OF CONTENTS
CHAIRMAN’S MESSAGE
02 04 06
A
COHERENT UNIVERSE
FINANCIAL HIGHLIGHTS
OF MEN AND
HIGHLIGHTS BOARD OF DIRECTORS AND GENERAL MANAGEMENT CORPORATE GOVERNANCE THE LVMH SHARE SHAREHOLDER RELATIONS
WOMEN PASSIONATE ABOUT THEIR BUSINESS AND DRIVEN BY THE DESIRE TO
INNOVATE AND
08 09 10 12
ACHIEVE . AN
UNRIVALLED GROUP OF
POWERFULLY EVOCATIVE BRANDS AND GREAT NAMES THAT ARE SYNONYMOUS W I T H T H E H I S T O R Y O F LU X U R Y. ALLIANCE BETWEEN MANSHIP ITY, VIRTUOSITY, TY INTERSECT. WITH NEAR
PASSIONATE ABOUT CREATIVITY, A SUSTAINABLE DEVELOPMENT SUCCESS IS CONSTRUCTED OVER THE LONG TERM A LONG-TERM STRATEGY A COMMITMENT TO THE ENVIRONMENT A SOCIETAL POLICY
A
N AT U R A L
ART AND CRAFTS WHERE CREATIV AND QUALI -
13 14 20 28
A
REMARKABLE ECONOMIC SUCCESS STORY E M P L OY E E S W O R L D W I D E A N D IN THE MANUFACTURE AND
54,000
LVMH BUSINESS GROUPS WINES AND SPIRITS FASHION AND LEATHER GOODS PERFUMES AND COSMETICS WATCHES AND JEWELRY SELECTIVE RETAILING
GLOBAL LEADERSHIP
DISTRIBUTION OF
38 50 60 66 78
LUXURY GOODS . A
UNIQUE BLEND OF GLOBAL VISION AND DED ICATION TO SERVING THE NEEDS OF EVERY CUSTOMER.
T HE
SUCCESSFUL MARRIAGE OF
CULTURES GROUNDED IN TRADITION AND ELEGANCE WITH THE MOST ADVANCED MARKETING, INDUSTRIAL ORGANIZATION AND MANAGEMENT TECHNIQUES.
CONSOLIDATED FINANCIAL STATEMENTS
83
LVMH WORLWIDE
95
A
SIN-
GUL AR MIX OF TALENT, DARING AND THOROUGHNESS IN THE
QUEST FOR
EXCELLENCE. A UNIQUE ENTERPRISE
THAT STANDS OUT IN ITS SECTOR. SUMMARIZED
2002
ANNUAL REPORT 2002
laying the foundations for long-term prosperity by Bernard Arnault SUSTAINABLE DEVELOPMENT
meeting the challenge with confidence and responsibility
TRADES
strong growth of star brands, increase in market share
INNOVATION
research and creativity enhance the successes of the Group.
PASSIONATE ABOUT CREATIVITY
PASSIONATE ABOUT CREATIVITY TABLE OF CONTENTS
CHAIRMAN’S MESSAGE
02 04 06
A
COHERENT UNIVERSE
FINANCIAL HIGHLIGHTS
OF MEN AND
HIGHLIGHTS BOARD OF DIRECTORS AND GENERAL MANAGEMENT CORPORATE GOVERNANCE THE LVMH SHARE SHAREHOLDER RELATIONS
WOMEN PASSIONATE ABOUT THEIR BUSINESS AND DRIVEN BY THE DESIRE TO
INNOVATE AND
08 09 10 12
ACHIEVE . AN
UNRIVALLED GROUP OF
POWERFULLY EVOCATIVE BRANDS AND GREAT NAMES THAT ARE SYNONYMOUS W I T H T H E H I S T O R Y O F LU X U R Y. ALLIANCE BETWEEN MANSHIP ITY, VIRTUOSITY, TY INTERSECT. WITH NEAR
PASSIONATE ABOUT CREATIVITY, A SUSTAINABLE DEVELOPMENT SUCCESS IS CONSTRUCTED OVER THE LONG TERM A LONG-TERM STRATEGY A COMMITMENT TO THE ENVIRONMENT A SOCIETAL POLICY
A
N AT U R A L
ART AND CRAFTS WHERE CREATIV AND QUALI -
13 14 20 28
A
REMARKABLE ECONOMIC SUCCESS STORY E M P L OY E E S W O R L D W I D E A N D IN THE MANUFACTURE AND
54,000
LVMH BUSINESS GROUPS WINES AND SPIRITS FASHION AND LEATHER GOODS PERFUMES AND COSMETICS WATCHES AND JEWELRY SELECTIVE RETAILING
GLOBAL LEADERSHIP
DISTRIBUTION OF
38 50 60 66 78
LUXURY GOODS . A
UNIQUE BLEND OF GLOBAL VISION AND DED ICATION TO SERVING THE NEEDS OF EVERY CUSTOMER.
T HE
SUCCESSFUL MARRIAGE OF
CULTURES GROUNDED IN TRADITION AND ELEGANCE WITH THE MOST ADVANCED MARKETING, INDUSTRIAL ORGANIZATION AND MANAGEMENT TECHNIQUES.
CONSOLIDATED FINANCIAL STATEMENTS
83
LVMH WORLWIDE
95
A
SIN-
GUL AR MIX OF TALENT, DARING AND THOROUGHNESS IN THE
QUEST FOR
EXCELLENCE. A UNIQUE ENTERPRISE
THAT STANDS OUT IN ITS SECTOR. SUMMARIZED