Profits at Irish arm of Louis Vuitton soar 40pc
Bling is back - at least for some - as profits at the Irish business of luxury brand firm Louis Vuitton soared by 40pc to €4.2m last year.
New accounts filed by Louis Vuitton Ireland Ltd show that the company enjoyed the jump in profits after revenues increased by 23pc from €10.8m to €13.94m.
The Irish arm of the luxury retailer - which operates its only Irish store at Dublin's Brown Thomas - last year recorded revenues of €268,076 a week. Louis Vuitton is the world's most valuable luxury brand and, since the start of 2014 to the end of last year, sales of Louis Vuitton goods here have more than tripled, going from €5.3m to €13.94m as the economy has rebounded.
The brand is a favourite of celebrities. Recently pop stars, Taylor Swift, Justin Bieber, Demi Lovato and Jennifer Lopez have all been spotted sporting Louis Vuitton-branded items.
Earlier this year, Oscar winner Emma Stone became the new face of Louis Vuitton in a multimillion-dollar deal for the 'La La Land' actor.
The surge in sales has allowed it this year to pay a dividend of €3.68m. This followed a dividend payout of €2.6m in 2017. Numbers employed at Louis Vuitton's Brown Thomas store increased from 11 to 15 with staff costs hitting €504,000.