LVMH reports record revenues of EUR 79.2 billion for 2022
The leading luxury group reports organic sales growth of +17% (+23% reported) compared to 2021. The Fashion and Leather Goods division reaches record levels, achieving organic growth of +20%. Net profit is up +17% to 14 billion euros.
By Eva Morletto26 janvier 2023
The Paris Stock Exchange was buzzing on January 26, 2023, the publication date of the financial results of the LVMH group. The world's leading luxury goods company reported record global revenues for 2022 at 79.2 billion euros in sales, up significantly from 2021 (64.2 billion euros), which was nevertheless excellent despite the impact of the global pandemic.
By business area, fashion and leather goods continue to dominate, with organic growth of +20% in 2022. The performance of the fashion houses was particularly excellent, notably for the flagship brands Louis Vuitton (whose sales exceeded 20 billion euros for the first time), Christian Dior, Fendi and Marc Jacobs.
The Watches and Jewelry segment also posted strong growth, with total sales of 10.5 billion euros compared to 8.9 billion euros the previous year, a jump of more than +18%. This increase follows a clear upturn in activity in the sector that began last year. In fact, while in 2020 sales of watches and fine jewelry represented only 7% of LVMH sales, in 2021 they will account for 14% of the group's overall sales.
The Wines and Spirits segment also recorded a clear increase in results, with +19%. Demand was boosted by the lifting of sanitary restrictions around the world, enabling the recovery of restaurant and hotel activities in Europe, the United States, Japan and certain emerging markets in Africa and Asia. Champagne volumes were up +6% despite supply difficulties.
While the financial results are exceptional, 2022 has also seen the group invest 215 million euros in employee training.
In 2022, the luxury leader paid 5 billion in corporate taxes, half of which was in France.
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