Louis Vuitton vs Tapestry: Revenue, Profit and Business Model
A full-year revenue figure is unavailable here for Louis Vuitton. Tapestry had $8B of annual revenue in FY2026 and $1.5B of net income.
Latest financial snapshot
Louis Vuitton
A revenue or profit figure is unavailable here for Louis Vuitton.
Tapestry
- Latest annual revenue
- $8B (FY2026)
- Net income
- $1.5B
- Net margin
- 19.1%
- Revenue growth
- +6.6% a year, FY2017–FY2026
Financial summary
Louis Vuitton
LVMH does not disclose Louis Vuitton's revenue or margin, so any precise standalone figure is an estimate. The reported proxy is the Fashion & Leather Goods business group, which also contains Dior, Celine, Loewe, Fendi, Givenchy, Loro Piana and others: ~$47.7 billion (€42.169 billion) of revenue in 2023, ~$46.4 billion (€41.060 billion) in 2024 and ~$42.7 billion (€37.770 billion) in 2025, with recurring operating profit falling from ~$19 billion (€16.836 billion) to ~$14.9 billion (€13.209 billion). In H1 2026 the group posted ~$20.5 billion (€18.146 billion) of revenue (versus ~$21.6 billion (€19.115 billion) a year earlier) and ~$7 billion (€6.195 billion) of recurring operating profit, a margin of about 34%. LVMH said the segment returned to organic growth of 1% in Q2 2026, helped by a fast acceleration in the United States.
Tapestry
Tapestry's fiscal 2026 was its strongest year on record. Net sales reached $8.004 billion, GAAP operating income was $1.914 billion (23.9% margin), GAAP diluted EPS was $7.27 and non-GAAP EPS was $7.05, up 38%. Operating cash flow was $1.98 billion and adjusted free cash flow $1.86 billion. The company returned $1.7 billion to shareholders, including $1.35 billion of buybacks, and raised its quarterly dividend 16% to $0.4625 per share. It ended the year with $1.15 billion in cash and short-term investments and $2.38 billion of borrowings.
Revenue and profit by year
Louis Vuitton
A revenue figure is unavailable here for Louis Vuitton. What is known about its finances is in the summary above.
Tapestry
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $8B | $1.5B | 19.1% | +14.2% | Source |
| FY2025 | $7B | $183.2M | 2.6% | +5.1% | Source |
| FY2024 | $6.7B | $816M | 12.2% | +0.2% | Source |
| FY2023 | $6.7B | $936M | 14.1% | -0.4% | Source |
| FY2022 | $6.7B | $856.3M | 12.8% | +16.3% | Source |
| FY2021 | $5.7B | $834.2M | 14.5% | +15.8% | Source |
| FY2020 | $5B | -$652.1M | -13.1% | -17.7% | Source |
| FY2019 | $6B | $643.4M | 10.7% | +2.5% | Source |
| FY2018 | $5.9B | $397.5M | 6.8% | +31.0% | Source |
| FY2017 | $4.5B | $591M | 13.2% | — | Source |
Where the revenue comes from
Louis Vuitton
- Leather goods~45%
Leather goods
- Fashion and shoes~25%
Fashion and shoes
- Accessories~15%
Accessories
- Fragrance and licensing~10%
Fragrance and licensing
Tapestry
- Direct-to-Consumer
Most of sales
Full-price stores, outlet stores and brand websites for Coach and Kate Spade, which let the company control pricing, inventory and customer data.
- Wholesale
Not formally reported
Sales through wholesale accounts.
- Licensing
Not formally reported
Licensing deals for categories such as fragrance, eyewear and watches.
Business model and strategy
Louis Vuitton
How it makes money
Louis Vuitton makes money by selling its own products at full price through channels it controls: a global network of directly operated boutiques, flagship 'maisons' such as the new Beijing and Seoul stores, and its e-commerce site. It does not rely on department-store wholesale, so it keeps the retail margin and controls presentation, pricing and client data.
Growth strategy
Beccari's playbook is to keep LV's scale while making the experience feel more exclusive. Practical levers include larger 'cultural' flagships (Beijing and Seoul were singled out by LVMH for excellent performance in H1 2026), category extension into high jewelry, watches and beauty, celebrity-led menswear under Pharrell Williams since 2023, Nicolas Ghesquière's women's collections, and heritage moments such as the Mo…
Competitive advantage
Louis Vuitton's edge comes from 170 years of trunk-making heritage, one of the most recognised trademarks in fashion, and near-total control of its distribution and pricing. Because it sells through its own stores and avoids markdowns, customers see consistent prices worldwide, which supports resale values and brand trust.
Tapestry
How it makes money
Tapestry makes money by designing and selling Coach and Kate Spade products, mainly handbags and small leather goods, at prices well below European luxury houses. Most sales come direct to consumers through full-price stores, outlet stores and brand websites, which lets the company control pricing, inventory and customer data.
Growth strategy
Under its Amplify strategy, Tapestry focuses on emotional brand connection, product innovation, global store and digital experiences, and talent. In practice that means heavy marketing to younger shoppers (about 35% of the roughly 11 million new customers in fiscal 2026 were Gen Z), growth in Greater China and Europe, fewer promotions, and steady buybacks and dividends.
Competitive advantage
Coach's heritage, recognizable silhouettes such as the Tabby, and strong pricing power below European luxury give Tapestry a defensible position in accessible luxury. A direct-to-consumer model and data-led merchandising helped lift Coach handbag average unit retail by a mid-teens percentage in fiscal 2026.
Questions about Louis Vuitton vs Tapestry
Which company has higher revenue — Louis Vuitton Malletier SAS or Tapestry, Inc.?
Tapestry, Inc. had $8.0B (FY2026). A comparable annual revenue figure for Louis Vuitton Malletier SAS was unavailable here.
What is the market cap of Louis Vuitton Malletier SAS vs Tapestry, Inc.?
Tapestry, Inc. has a market capitalisation of $23.0B. A public market cap figure for Louis Vuitton Malletier SAS was not available (it may be privately held).
How does revenue per employee compare for Louis Vuitton Malletier SAS and Tapestry, Inc.?
Tapestry, Inc. generates $389k / employee in revenue per employee. A comparable figure for Louis Vuitton Malletier SAS requires matching employee and revenue data from the same reporting period.
How do Louis Vuitton Malletier SAS and Tapestry, Inc. make money?
Louis Vuitton Malletier SAS and Tapestry, Inc. generate revenue in fundamentally different ways. Louis Vuitton Malletier SAS: Louis Vuitton makes money by selling its own products at full price through channels it controls: a global network of directly operated boutiques, flagship 'maisons' such as the new Beijing and Seoul stores, and its e-commerce site. Tapestry, Inc.: Tapestry makes money by designing and selling Coach and Kate Spade products, mainly handbags and small leather goods, at prices well below European luxury houses.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Louis Vuitton vs Tapestry overview