In a stellar financial performance for the fiscal year 2023, luxury conglomerate LVMH Moët Hennessy Louis Vuitton disclosed a robust revenue of €86.2 billion, marking a notable 13% increase from the previous year. The majority of business groups displayed impressive results, with the exception of Wines & Spirits. Noteworthy growth was observed in key regions, including Europe, Japan, and various Asian markets, contributing to a 10% rise in organic revenue during the fourth quarter.
The profit from recurring operations also demonstrated a commendable 8% growth, reaching €22.8 billion. Concurrently, the group’s net profit experienced an identical 8% increase, totaling €15.2 billion.
CEO Bernard Arnault attributed this outstanding performance to the enduring appeal and quality of LVMH’s brands, even in the face of economic and geopolitical challenges. Arnault underscored the group’s commitment to innovation, design, retail excellence, and initiatives focusing on environmental protection, talent development, and heritage preservation. Additionally, LVMH is gearing up for a strategic partnership with the Paris 2024 Olympic and Paralympic Games, aiming to bolster its leadership in the luxury sector and champion French excellence.
Key highlights from the 2023 performances include the Fashion & Leather Goods sector, where brands like Louis Vuitton and Christian Dior achieved record revenues. Growth was also evident in fragrances, makeup, jewelry, and watches, with Dior’s Sauvage maintaining its status as the world’s best-selling fragrance. Sephora stood out in beauty retail. LVMH’s LIFE 360 environmental program successfully met its 2023 goals, showcasing progress in renewable energy use and CO2 emissions reduction. The global workforce of LVMH exceeded 213,000, making substantial economic contributions in France and worldwide, while also extending support to over 950 nonprofits and charitable foundations.
