LVMH 2020 . F a s h i o n & L e a t h e r G o o d s

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2020 Review

Remarkable resilience

In 2020, the Fashion & Leather Goods business group recorded a decrease in organic revenue of only 3% in an environment marked by the closure of stores over a period of several months. The second half saw a noteworthy rebound in activity, with double-digit organic revenue growth in both quarters. China recorded a strong recovery in revenue beginning in April and the United States in July. Louis Vuitton, always driven by exceptional dynamism and creativity, was able very quickly to transform and revitalize its customer relations with a high quality and efficient digital service. Many innovations were unveiled throughout the year, such as the Pont 9 range and the 1854 canvas. The Maison s commit- ment to high quality craftsmanship and sustainability continues in the form of responsible creativity. A new workshop opened at Vendôme in France. Christian Dior demonstrated remarkable momentum and gained market share in all regions thanks to its exceptional creativity. The Lady Dior bag has become a global icon, the Women s collections of Maria Grazia Chiuri and the Men s runway shows of Kim Jones were a huge success. The other fashion brands showed solid resilience during the year, notably Loewe with the creations of J.W. Anderson, Celine with the creations of Hedi Slimane, Fendi, Marc Jacobs and Loro Piana. It should be noted that our Group very substantially outperformed its competitors in fashion and leather goods in the second half of the year.

2021 Outlook

In an environment that remains uncertain, LVMH s Maisons can count on their highly com- mitted, responsive staff to unleash their creativity and build on their values of quality and sustainability, while maintaining their efforts to adapt to the economic situation. Focusing on their priorities, they will be well positioned to take advantage of a solid recovery, when it arrives, and regain strong momentum in the medium term. Driven by its talented designers and craftspeople, Louis Vuitton will continue to enrich its offering and invest in its distri- bution network. Future developments will fit within the Maison s steadfast aim of infusing its exceptional heritage with the best of modernity, providing each customer with an exceptional experience in its stores and online. Christian Dior Couture aims to continue its sustained growth. Among the highlights of the year, the House of Dior s historic location at 30 Avenue Montaigne is set to reopen its doors. Fendi will present the first Women s Couture and Ready-to-Wear collections under the leadership of its new Creative Director Kim Jones. The success of its iconic Peekaboo and Baguette bags will be a key growth driver for the Maison. The store network will continue to grow, with openings slated in Sydney, Milan and Doha, along with numerous plans under way in several cities in China. Loro Piana will add to its lines of leather goods and clothing made with sumptuous materials. The e-commerce site will expand to new markets. Celine will hold virtual shows designed and filmed by Hedi Slimane. Loewe will continue to innovate with Jonathan Anderson.

At a glance