Louis Vuitton had massive jump in online sales in Ireland during 2020 lockdown

Sky-high prices for at least some of the brand’s goods did nothing to dampen demand for the designer items, with Louis Vuitton Ireland posting an almost four-fold increase in online sales last year.

Online sales at the Irish arm of luxury brand maker Louis Vuitton rocketed by 382% last year as consumers here turned to bling during lockdown.

The world’s most valuable brand is renowned for its expensive handbags with its On My Side MM Tote bag currently available online for €3,850.

However, the sky-high prices for at least some of the brand’s goods did nothing to dampen demand for the designer items, with Louis Vuitton Ireland posting an almost four-fold increase in online sales last year.

The Irish division’s pre-tax profits jumped by 15% to €7.2m last year, according to newly filed accounts.

Revenues, last year, increased by 2% to nearly €21.2m.

The online sales ensured the company outperformed its pre-Covid 2019 performance.

The brand operates its only Irish store at Brown Thomas in Dublin and the French-owned company achieved the increase in profits and revenues last year despite Covid-19 shutdowns of the ‘bricks and mortar’ retail sector here during 2020.

The 2020 performance has given the company the confidence to further state that “with a steady growth in our retail store and a soar in our e-retail sales, we see a strong cash flow position for 2021”.

The company said Covid “has not and will continue to not have a material adverse impact on the company’s ability to continue as a going concern”.