LVMH grows: +14% in the first 9 months of 2023, for over 62 billion in revenues
An organic growth in revenues of 14% in the first nine months of 2023 compared to the same period of 2022. LVMH, the largest luxury group in the world, continues to fly: revenues reach 62,205 million euros, with an increase of 10% % on the same period last year. Sustained organic growth was recorded for all divisions, with the exception of Wines & Spirits (4,689 million euros; -7% on an organic basis). Taking into account the negative impact of the 4% exchange rate, the group's revenues increased by 10% and Europe, Japan and the rest of Asia recorded double-digit organic growth.
Alone, the Fashion & Leather Goods division made 30,912 million euros (+16% on an organic basis). «Louis Vuitton achieved an excellent performance – explains a note from the Group – once again supported by the creativity and quality of its products and by the strong link with art and culture». Among the new projects unveiled by the brand, the new Tambour, a fusion of the mastery of Swiss watchmaking and the Parisian elegance of Louis Vuitton. And then the enthusiasm generated in July by the first fashion show by Pharrell Williams, the new creative director of the men's line, while the boundless creativity of Nicolas Ghesquière continues to convince.
«Christian Dior continued to record notable growth in all its product categories – we read again in the note -. The fashion shows curated by Maria Grazia Chiuri and Kim Jones had excellent craftsmanship in fresh and elegant collections as their protagonist." Accomplices to the success are the Dioriviera collection, unveiled during the summer in a series of temporary shops around the world, and Victoire de Castellane's jewelery collection Les Jardins de la Couture, inspired by two worlds very dear to Christian Dior's heart: couture and gardens.
The positive results are also thanks to Celine which has continued to improve its desirability, driven by the success of Hedi Slimane's creations and fashion shows, as well as the creative leadership of J.W. Anderson continued to lead the rise of Loewe along with the success of the latest new leather goods models. Loro Piana experienced strong growth and launched the first capsule collection made from recycled cashmere, while Fendi expanded its retail network. Rimowa, Marc Jacobs and Berluti all delivered an excellent performance.
For the rest, Perfumes & Cosmetics contributes to the total for 6,021 million euros (+12% on an organic basis), Watches & Jewelry for 7,951 million (+9% on an organic basis), and the Selective Retailing sector for 12,431 million (+26 %). The general objective is to further strengthen the global presence in the luxury goods market. «In an uncertain economic and geopolitical context - concludes the note - the Group is confident in the continuation of its growth path and will maintain a strategy focused on the continuous improvement of the attractiveness of its brands, focusing on the authenticity and quality of its products, on "excellence in distribution and an agile organization". Fashion & Leather Goods achieved organic revenue growth of 16%. nine months of 2023. The selective retailing sector does better than Fashion&Leather, with +26%.