The world’s Number One company underperformed in 2024, with a near-stagnation in sales and a decline in earnings. However, CEO Bernard Arnault looks forward to 2025 with confidence, as certain brands (Dior, Tiffany) post double-digit growth.
The year 2024 will not go down in history, but 2025 will be a year of hope…
On January 28,LVMH announced a 1% like-for-like increase in sales to 84.7 billion euros in 2024. This is “despite a difficult economic and geopolitical environment, and a high basis for comparison after the years of exceptional post-Covid growth”, the group points out in a press release.
Small organic growth
At the press conference to present these results, Bernard Arnault, CEO of the world leader in luxury goods, stressed that this was “a small amount of organic growth, contrary to what many of you expected”. Royal Bank of Canada, for example, was expecting a 3% decline.
Read also > LVMH declines in the third quarter of 2024
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