Lvmh reports 29% sales growth in Q1
The luxury group LVMH has just announced 18 billion euros in sales for the first quarter and continues its record-breaking momentum after a successful 2021.
LVMH announced this Tuesday that it achieved 18 billion euros in sales in the first quarter, a jump of 29% compared to the same period last year. The world’s number one luxury goods company continues its momentum after a record year 2021.
The group with 75 “houses” – the first of the CAC 40 to reveal its first quarter figures – believes it has achieved “a good start to the year in an environment still disrupted by the health crisis and marked by the dramatic events in Ukraine“. The sales are well above the consensus established by Bloomberg and Factset, which were expecting 16.4 billion euros and 17 billion euros respectively, according to AFP.
Strong demand for Louis Vuitton and Dior products in particular helped to boost LVMH’s sales. The high-end fashion brand segment alone drove a 30% increase in group sales.
Perfumes and cosmetics also showed a very positive dynamic with an increase of 23% compared to the previous quarter, with a turnover of 1.9 billion euros, thanks in part to the United States. The spirits sector, despite good momentum at the beginning of the year and a respectable 8% increase, did not reach the same heights as the group’s other categories (€1.638 billion in turnover).
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