LVMH, the world's largest luxury company, reported stronger-than-anticipated full-year sales, indicating a possible recovery in the high-end market. The French conglomerate, known for brands like Louis Vuitton and Moët & Chandon, saw revenues reach €84.68 billion, exceeding analysts' forecasts. This positive performance comes after a period of decline in the luxury sector, particularly in Asia. LVMH's chairman and CEO, Bernard Arnault, attributed the results to the company's resilience and strong strategy.
The world's largest luxury company LVMH on Tuesday reported better-than-expected full-year sales, in the strongest sign yet of a potential turnaround in the high-end sector.
Shares in the French luxury goods giant are currently up around 18% year-to-date, having fallen more than 13% in 2024.The owner of brands including Louis Vuitton, Moët & Chandon and Hennessy posted revenues of 84.68 billion euros for 2024, versus the 84.38 billion euros forecast by LSEG analysts.Sales also rose more than expected in the fourth quarter to December, after falling for the first time since the pandemic in the three months prior.
The results were driven by particularly solid performance in its selective retailing unit, which includes Sephora, as well as perfume and cosmetics. The group's critical fashion and leather goods, and wine and spirits segments, however, continued to lag. He added that, despite ongoing geopolitical and macroeconomic uncertainties, the group's outlook for 2025 was "starting well," according to a translation.
LVMH Luxury Sector Sales Recovery Bernard Arnault
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