Luxury Figures

LVMH: first quarter of 2023 up +17%

By Eva Morletto13 avril 2023

The LVMH group's sales increased by +17% compared to the previous year and reached a total of 21.03 billion euros in revenues. The fashion and leather goods sectors are the leading sectors.

The fashion industry alone recorded more than 10 billion in sales, and Louis Vuitton was able to benefit from the arrival of Pharrell Williams as head of men's designs (Shutterstock)

LVMH, the French luxury giant, is still posting record results. The group just released figures for the first quarter of 2023, with a +17% increase over 2022. The fashion sector alone recorded over 10 billion in sales, with an increase of +18% compared to the first quarter of 2022.

The best-performing sectors were fashion and leather goods. Flagship brand Louis Vuitton benefited from the arrival of Pharrell Williams as head of men's designs. Celine and Dior also performed remarkably well. About Celine, the group's statement said, "the house continues to grow at a very high rate," as does Dior, which "continues to perform remarkably well across all its products."

Sephora and DFS saw their sales jump by +30% compared to last year, posting around 4 billion euros in revenues. While DFS (duty-free) could count on the recovery in international travel and tourism, Sephora benefited from excellent performances in Europe, the United States and the Middle East.

The Wines and Spirits segment, which includes the Moët & Chandon, Ruinart and Dom Pérignon brands, among others, posted sales of 1.7 billion euros, with an increase of +3% compared to the first quarter of 2022. The perfumes and cosmetics division posted 2.1 billion in sales. Another notable performance was watches and jewelry, which reached 2.6 billion euros, up +11%.

The fortune of Bernard Arnault and his family is now estimated at $211 billion for 2023, according to the Forbes ranking.

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