04.12.23
LVMH has recorded revenue of $23 billion in the first quarter of 2023, a 17% increase from the prior-year period.
Organic revenue growth was also 17%.
LVMH officials call these Q1 gains an “excellent start to the year” within an uncertain geopolitical and economic environment.
According to the company, Europe and Japan, which enjoyed strong growth momentum, benefited from robust demand from local customers and international travelers. The United States, a market which continues to grow, had a steady performance. Asia experienced a significant rebound following the lifting of health restrictions.
For perfumes and cosmetics, the company reported $2.3 billion, a positive change of 11% and an organic positive change of 10%, compared with the prior-year quarter which was $2 billion.
Christian Dior achieved what officials called a “remarkable performance” and continued to strengthen its lead. Its iconic Sauvage, Miss Dior and J’Adore fragrances were significant channels of growth. Makeup and skincare also contributed to the performance of the Maison. Guerlain benefited from the success of its Aqua Allegoria line. A new liquid foundation enriched the iconic Terracotta collection, while Parfums Givenchy unveiled its new fragrance “Gentleman Society.”
Benefit successfully expanded its The Porefessional skincare range, while Fenty Beauty benefited from strong visibility given following’s founder Rihanna’s Super Bowl LVII halftime show, which garnered an audience of nearly 119 million viewers.