Having ended 2023 with a better-than-expected fourth quarter, Lvmh ended the year with organic sales growth of +13% and profits up +8%. The number one in luxury goods looks forward with confidence to 2024, when it will be Premium Partner of the Paris Olympic Games.
A slowdown in luxury? Not even afraid…
Lvmh, the sector’s number one, has just posted results for 2023 that still show enviable growth, and looks forward to 2024 with confidence…
The French group announced “another record year in a troubled environment“. And at the press conference, LVMH CEO Bernard Arnault said he was “very confident” about 2024. “For all of us, it will be an exceptional and inspiring year, marked by our partnership with the Paris 2024 Olympic and Paralympic Games, which carry the values of passion, inclusion and surpassing oneself, cultivated by our Group,” he stressed, seeing for LVMH “a new opportunity to further strengthen its lead in the global luxury market and contribute to France’s influence around the world.”
Fourth quarter exceeds expectations
Meanwhile, Lvmh did not disappoint in 2023 either.
Over the full year, its sales posted organic growth (identical structure and exchange rates) of +13% to 86.2 billion euros. And although fourth-quarter organic sales growth was slightly lower (+10%), it was still ahead of expectations.
This good news comes a few days after Richemont, which also reported strong sales in the last quarter (+8%).
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Featured Photo: © Louis Vuitton
