LVMH has reported its results for the third quarter of fiscal 2023 and first nine months of the year. The French luxury conglomerate recorded organic revenue growth of 14 percent for the first nine months of 2023 versus the same period in 2022. In the third quarter, revenue grew 9 percent.
All business units experienced growth in the first nine months of the year except for Wines & Spirits, where revenue dropped 7 percent. Perfumes & Cosmetics put on 12 percent and Selective Retailing grew and impressive 26 percent.
The group singled out Christian Dior’s performance as ‘remarkable’ with major growth from key scent pillars Miss Dior and J’adore. Sephora, too was lauded for its ‘exceptional’ execution, continuing to gain market share.
LVMH said that it is confident in the continuation of its growth and will maintain a strategy focused on continuously enhancing the desirability of its brands, drawing on the authenticity and quality of its products, excellence in distribution and agile organization.
