LVMH Shatters Records: Unveiling 2023's Exceptional Luxury Market Success and Growth Insights

In 2023, LVMH, the leading global luxury goods conglomerate, revealed an unprecedented increase in its financial performance, achieving a remarkable total revenue of €86.2 billion. This figure marks a 9% increase in overall revenue and a notable 13% rise in organic growth. Notably, the latter part of the year saw a stronger revenue increase, with a 10% organic growth in Q4, compared to 9% in Q3. This growth occurred despite various global economic challenges, highlighting the luxury market's robustness. LVMH's recurring operational profits for the year reached an impressive €22.8 billion meaning a growth of 8%.

The substantial revenue growth was primarily fueled by remarkable gains in Japan (28%) and Asia excluding Japan (18%). Europe also showcased strong performance with a 13% increase, while the United States observed a modest growth of 4%.

Breaking down LVMH's 2023 revenue streams, all divisions of the French luxury empire, managed by the Arnault family, experienced growth, with the exception of the Wine and Spirits sector, which saw a 7% decline. The most significant growth drivers were the Selective Retailing sector, which soared by 20%, and the Fashion & Leather Goods group. This last one that includes the flagship brand Louis Vuitton, accounted for nearly half of LVMH’s sales and saw a 9% increase in revenue.

 For more information, visit LVMH 2023 FULL YEAR RESULTS