LVMH's first quarter financial results recorded revenue of €18 billion, a 29% increase compared to the same period in 2021. Read more here.
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LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury conglomerate, has had a great start to 2022. Its first quarter financial results recorded revenue of €18 billion, a 29 per cent increase compared to the same period in 2021. Organic revenue was 23 per cent. The group revealed that all its business groups achieved double-digit growth, except its Wines & Spirits division, which continued to face supply constraints.
Geographically, the US and Europe both logged double-digit revenue growth, dispelling concerns about the impact of the war in Ukraine on its sales. While in Asia , demand continued to increase despite the effects of a tightening of health restrictions in Mainland China. Chief financial offer Jean-Jacques Guiony shared that between 15 per cent to 25 per cent of its stores in the country had to be closed since 15 March.
In the Fashion & Leather goods division, it posted organic revenue growth of 30 per cent in Q1. This is mainly due to its two star brands: Louis Vuitton and Dior. The former presented the late Virgil Abloh’s final Autumn/Winter 2022 menswear collection earlier in February, while Nicolas Ghesquière unveiled the
— a first for the brand. At Dior, the Maison reopened its historic flagship at 30 Avenue Montaigne, a symbol of the couture house’s exceptional savoir-faire and a holistic experience of Dior’s world.
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