LVMH revenues up in first nine months of 2022

LVMH has reported organic revenue growth of 2% to £49.6 billion (€56.5 billion) for the first nine months of 2022.

Group revenue for the first quarter of 2022 saw year-on-year increases of 23%, the second quarter increase 19% and third quarter 19%, compared to the respective revenues in 2021.

Revenues in the US, Europe and Japan were up "sharply" since the start of the year, attributed to the demand of local customers and the recovery in international travel.

The perfume and cosmetics business group recorded revenue growth of 19% to £4.8 billion (€5.5 billion), with "remarkable performance" from Parfums Christian Dior and continued growth from Guerlain and Parfums Givenchy.

The fashion and leather goods business group recorded revenue growth of 31% to £24.4 billion (€27.8 billion), driven by Louis Vuitton, Dior, Celine and Loewe.

The watches and jewellery business group recorded revenue growth of of 23% to £6.5 billion (€7.5 billion), with a number of collection launches from Bulgari and Tag Heuer.

Looking ahead, LVMH said it is confident in the continuation of current growth and will maintain a policy of cost control and selective investment. The group’ strategy will remain focused on "strengthening the desirability of its brands, by relying on the authenticity and quality of its products, the excellence of their distribution and the reactivity of its organisation".