Pre-tax profits at the Irish arm of the world’s most valuable luxury brand Louis Vuitton lost some of their “bling” last year as they declined by 15% to €7.5m.
New accounts filed by Louis Vuitton Ireland Ltd show that pre-tax profits decreased by €1.34m from €8.85m in 2024 as revenues dipped by 10% from €31.36m to €28.13m.
The 10% decline in revenues follows a 14% drop in revenues in 2024 from the record revenues of €36.49m achieved in 2023.
The brand has only one dedicated store here which is housed in Brown Thomas on Dublin’s Grafton Street, while it also generates revenues from online sales.
Store sales declined at the Grafton Street outlet by 10% from €28.16m to €25.1m and this followed an 11% decline in sales in 2024.
Online sales decreased by 5% from €3.2m to €3.02m and this followed a 35% drop in online sales in the prior year.
The directors state that “2025 was a year of continued economic volatility where the macroeconomic conditions like the high rates of inflation and interest remains a challenge in the retail sector”.
“In this context we stay cautious about the ongoing difficulties impacting the industry and the wider economy,” they state.
Despite this, Louis Vuitton “is showing resilience with a loyal customer base and a strong branding image supported by marketing activities within Ireland and the wider group,” they add.
The directors state that “with a steady trade in our retail store, we see a robust cash flow position for 2026”.
The brand is renowned for its expensive bags with its Pharrell Williams’s Rabbit Bag currently available online for its Irish customers at €25,000 while a Louis Vuitton golf bag will set customers back €20,500.
A diamond pendant – Monogram Star Cut – is priced from €86,000 while diamond hoops will cost €53,500 and a rose gold coloured Tambour watch costs €67,000.
The business sells a designer range of leather goods, accessories, watches, jewellery, fragrances, shoes and clothing here and the company last year paid out a dividend of €7.47m.
The directors state that they are proposing a dividend of €6.3m to be paid this year.
The directors state that in an economic environment in Europe which remains uncertain, Louis Vuitton will continue to focus its efforts on developing its client networks and will maintain a strict control over costs.
The brand is a favourite of celebrities and pop stars and Taylor Swift, Justin Bieber and Jennifer Lopez have all been spotted sporting Louis Vuitton branded items.
Louis Vuitton is part of the multi-billion stock market-listed and French headquartered LVMH Moet Hennessy luxury brands company.
The profit takes account of concession commission of €2.59m and non-cash depreciation costs of €450,000.
The Irish company last year recorded post tax profits of €6.3m after incurring a corporation tax charge of €1.19m.
Numbers employed by the company last year decreased from 22 to 21 as staff costs dipped from €1.17m to €1.11m.
At the end of December last, the company had shareholder funds of €7.4m that included accumulated profits of €6.3m.
Reporting by Gordon Deegan
