LVMH, the world's largest luxury goods conglomerate, reported a 3% organic revenue growth in Q1, reaching €20.7 billion ($22 billion).
LVMH, the world's largest luxury goods conglomerate, reported a 3% organic revenue growth in Q1, reaching €20.7 billion ($22 billion). Sales growth was observed in Japan, Europe, and the United States, while they decreased in Asia. The company's Asia sales, excluding Japan, declined by 6%. Despite this, LVMH's fashion and leather goods business, which includes Louis Vuitton and Dior, saw sales climb 2%, meeting expectations. The wines and spirits division experienced a 16% sales drop. LVMH anticipates remaining vigilant and confident amid unstable geopolitical and economic situations, focusing on appropriate investments and innovation strategies.
April 16, 2024
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