LVMH is #5 on our Top Global Beauty Companies 2023 Report

LVMH is #5 on our Top Global Beauty Companies 2023 report. 

Below is a look at the company's 2023 highlights, recent acquisitions, best-selling brands and latest innovations.

Corporate Sales:

$84.5 billion

Beauty Sales:

$8.5 billion

Key Personnel at LVMH

• Bernard Arnault, chairman and chief executive office
• Antonio Belloni, group managing director
• Stéphanie Medioni, executive president of LVMH Beauty
• Stéphane Rinderknech, chief of LVMH Perfumes and Cosmetics
• Nicolas Bazire, development and acquisitions
• Chris de Lapuente, selective retailing, CEO
• Guillaume Motte, CEO, Sephora

LVMH's Fragrance & Cosmetic Brands

• Guerlain
• Acqua Di Parma
• Parfums Christian Dior
• Givenchy Parfums
• Perfumes Loewe
• Kenzo Parfums
• Benefit Cosmetics
• Make Up For Ever
• Fresh
• KVD Beauty
• Maison Francis Kurkdjian
• Marc Jacobs Beauty
• Cha Ling
• Fenty Beauty by Rihanna

* LVMH also owns Sephora

New Products

• Dioriviera EDP
• Christian Dior J’Adore Parfum d’Eau
• Aqua Allegoria Forte fragrances
• Maison Francis Kurkdjian 724 fragrance
• Acqua di Parma Colonia fragrance
• YSL All Hours foundation
• La Créme skincare
• Benefit Porefessional skincare
• Fresh Tea Elixir
• Gimme Brow+ volumizing pencil
• Make Up For Ever HD Skin
• Fenty Hella Thicc mascara
• Fenty Beauty Gloss Bomb Universal Lip Luminizer in Hot Chocolit Fantasy

LVMH Is Synonymous with Luxury

LVMH is one of the world’s largest luxury houses, its CEO is the wealthiest man in the world.

Bernard Arnault has an estimated wealth of $190.7 billion—putting the CEO ahead of Elon Musk, Jeff Bezos and Bill Gates in December.

In 2023, LVMH has become one of the world’s biggest spenders, with huge advertising expenditures in line with the upcoming 2024 Olympics to be held in Paris. In July, LVMH signed on as a Premium Partner of Paris 2024 Olympic and Paralympic Games, in a deal rumored to be worth 150 million euros. Sephora will be a partner for the Olympic Torch Relay.

Market Stats—By the Numbers

In 2022, despite the world’s problems, the luxury and ultra-luxe markets fared well—and LVMH was at the top of the game in all of its categories, including fashion, spirits, and beauty.

Corporate sales rose 23% in 2022, reaching $84.5 billion. Sales of perfumes and cosmetics increased at about 17%, to $8.5 billion. By region, sales in Asia (excluding Japan) accounted for 35% of sales; followed by Europe (excluding France), 20%; the U.S., 19%; other markets, 12%; France, 9% and Japan, 5%.

Arnault said: “Our performance in 2022 illustrates the exceptional appeal of our Maisons and their ability to create desire during a year affected by economic and geopolitical challenges.”

LVMH also reported “a remarkable rebound for Sephora, which confirmed its place as world leader in the distribution of beauty products.” Sephora performance was especially strong in North America, Europe, the Middle East and in most Southeast Asian countries.

With more than 500 stores and 110 manufacturing facilities and workshops located across France. LVMH recruited more than 15,000 people in 2022, which makes the Group the leading private recruiter in the country.

Coming out of the pandemic, makeup sales accelerated and prestige fragrances continued their upward spiral. However, skincare sales declined in China due to further Covid-19 lockdowns.

Sales—By Brand

By brand, Christian Dior sales rose worldwide, led by gains in the U.S., South Korea, Southeast Asia and the Middle East.

According to LVMH, Sauvage, faced by Johnny Depp since 2015, continued in its role as not only top in the men’s fragrance category, but is “the world’s best-selling fragrance across all categories.” The fragrance is now available in refillable packaging.

The growth in Guerlain sales was also led by fragrance gains. Aqua Allegoria Forte was a popular launch.

In makeup, top performers included Gimme Brow+ volumizing pencil and Wanderful World powder blushes. Fresh got a lift from the launch of Tea Elixir, a serum said to boost skin’s resilience to stressors.

Parfums Givenchy’s sales rose due to existing fragrances as well as the launch of Gentlemen Réserve Privée, a collaboration with Glennmorangie whiskey. 

Seemingly unstoppable Fenty Beauty sales doubled via expanded distribution and new product launches like Butta Drop shimmering whipped oil body cream.

Key Leadership Changes at LVMH

At the end of 2022, Sephora named a new CEO—Guillaume Motte, who had most recently served as deputy CEO of LVMH Fashion Group.

In March 2023, LVMH brand Acqua di Parma named Giulio Bergamaschi as its new chief executive officer.

Other key appointments made in March were Stéphane Rinderknech, who was as named chief of LVMH Perfumes and Cosmetics; Véronique Courtois who now heads up Parfums Christian Dior, and Gabrielle Saint-Genis Rodriguez who now runs Guerlain.

Note: In September 2023, Sephora North America named a new president and future CEO, Artemis Patrick.

Record Revenue in 2023

LVMH recorded record revenue in the first half of 2023, with all business groups achieving double-digit organic revenue growth over the half year, except for Wines & Spirits.

Reported revenue was $46.8 billion in the first half of 2023, up 15%. Organic revenue growth was 17% compared to the same period in 2022.

The Perfumes & Cosmetics business group reported $3.6 billion and recorded organic revenue growth of 13% in the first half of 2023 “due to strong momentum achieved through innovation, combined with a highly selective distribution policy.”

Christian Dior strengthened its leadership in its strategic markets, not only with Sauvage, but with J’adore and Miss Dior. In makeup, Dior Addict Lip Maximizer and Forever Skin Correct foundation were top performers.

Christian Dior skincare also showed excellent performance, particularly in the premium segment in Asia with its iconic Prestige range. Guerlain continued to grow, while newly launched Fenty Beauty’s Hella Thicc mascara, is already one of the Maison’s bestsellers.

In August, Dior launched its new J’adore L’Or fragrance, created by master perfumer Francis Kurkdjian, who continues to run his business which is now part of the LVMH group.

The perfume is a new play on the original 1999 J’adore flanker, “moved from the aura of J’adore to the gold of J’adore,” said Kurkdjian.

The new EDP has also redesigned the wrapped necklace design of the bottle, replacing it with a textured sheet of metal around the top. “Its headdress-style lid crafted in metal and glass is like a true talisman, to be treasured over time as it captures new ‘drops of fragrance’,” according to Dior. 

Looking Ahead

In an uncertain geopolitical and economic environment, the Group says it will maintain a strategy focused on continuously strengthening the desirability of its brands, by relying on the “exceptional quality of its products and the excellence of their distribution.”

“Thanks to the desirability of our brands, we approach the second half of the year with confidence and optimism, but will remain vigilant within the current environment and count on the agility and talent of our teams to further strengthen our global leadership position in luxury goods in 2023,” Arnault added.

See Next: Shiseido is #6 on our list of Top Global Beauty Companies 2023 report.