04.12.23
Luxury goods group LVMH Moët Hennessy Louis Vuitton, which recorded a record year in 2022, has shared its results for the first quarter of 2023.
Despite an uncertain geopolitical and economic environment, the group recorded revenue of 21 billion euros ($22.9 billion) in the first quarter of 2023, up 17% compared to the same period of 2022. Organic revenue growth was 17%.
Europe and Japan, which enjoyed strong growth momentum, benefited from robust demand from local customers and international travelers; the United States, a market which continues to grow, had a steady performance. Asia experienced a significant rebound following the lifting of health restrictions.
Makeup and skincare also contributed to the performance of the Maison. Guerlain benefited from the success of its Aqua Allegoria line. A new liquid foundation enriched the Terracotta collection. Parfums Givenchy unveiled its new fragrance Gentleman Society. Benefit successfully expanded its The Porefessional skincare range, while Fenty Beauty benefited from the strong visibility given to the brand by Rihanna during the American Super Bowl.
Movivng forward, LVMH says it will continue to pursue its strategy “focused on the development of its brands, driven by a sustained policy of innovation and investment as well as by a constant quest for quality in its products, their desirability and their distribution.”
Despite an uncertain geopolitical and economic environment, the group recorded revenue of 21 billion euros ($22.9 billion) in the first quarter of 2023, up 17% compared to the same period of 2022. Organic revenue growth was 17%.
Europe and Japan, which enjoyed strong growth momentum, benefited from robust demand from local customers and international travelers; the United States, a market which continues to grow, had a steady performance. Asia experienced a significant rebound following the lifting of health restrictions.
Perfume & Cosmetics
The Perfumes & Cosmetics business group continued its strategy focused on highly selective distribution, delivering an 11% increase in revenue in the first quarter of 2023 (+10% organically). Christian Dior achieved a remarkable performance and continued to strengthen its lead. Its Sauvage, Miss Dior and J’Adore fragrances were significant channels of growth.Makeup and skincare also contributed to the performance of the Maison. Guerlain benefited from the success of its Aqua Allegoria line. A new liquid foundation enriched the Terracotta collection. Parfums Givenchy unveiled its new fragrance Gentleman Society. Benefit successfully expanded its The Porefessional skincare range, while Fenty Beauty benefited from the strong visibility given to the brand by Rihanna during the American Super Bowl.
Other Business Segments
See revenue by business group below:Movivng forward, LVMH says it will continue to pursue its strategy “focused on the development of its brands, driven by a sustained policy of innovation and investment as well as by a constant quest for quality in its products, their desirability and their distribution.”
