Asia Set to Take a Greater Role in LVMH?s Growth Moving Forward
The luxury conglomerate?s revenue for the year 2022 grew by 23 per cent to ?79.2 billion.
The post Asia Set to Take a Greater Role in LVMH?s Growth Moving Forward appeared first on LUXUO.
Bernard Arnault
LVMH celebrated another record year in 2022 as the conglomerate announced total revenue of ?79.2 billion, which is a 23 per cent increase compared to 2021. The net profit was up 17 per cent, hitting ?14.1 billion for the same comparative period. While the growth for the entire year was in double digits, its fourth-quarter sales only grew by 9 per cent, which is the time since 2020 but still above the consensus forecast of a 6 to 7 per cent rise according to analysts.
The owner of the world’s most luxurious brands, like Louis Vuitton, Dior and Tiffany & Co., cited that despite the ongoing economic and geopolitical challenges, it can “create desire”. But looking at the results more deeply, one would notice that the acceleration LVMH used to have has slowed down over the past quarters. Many of its sales are intrinsically linked to China’s economy and policies. Stringent Covid-19 lockdown and quarantine measures have impacted luxury sales across the brands. This is reflected in the drop in organic revenues in Asia ? which fell 8 per cent in the three months to 31 December.
Dior Men FW23
LVMH reported that sales in other key markets like Europe, Japan and North America had “strong growth in business” as international travel resu...
The post Asia Set to Take a Greater Role in LVMH?s Growth Moving Forward appeared first on LUXUO.
Bernard Arnault
LVMH celebrated another record year in 2022 as the conglomerate announced total revenue of ?79.2 billion, which is a 23 per cent increase compared to 2021. The net profit was up 17 per cent, hitting ?14.1 billion for the same comparative period. While the growth for the entire year was in double digits, its fourth-quarter sales only grew by 9 per cent, which is the time since 2020 but still above the consensus forecast of a 6 to 7 per cent rise according to analysts.
The owner of the world’s most luxurious brands, like Louis Vuitton, Dior and Tiffany & Co., cited that despite the ongoing economic and geopolitical challenges, it can “create desire”. But looking at the results more deeply, one would notice that the acceleration LVMH used to have has slowed down over the past quarters. Many of its sales are intrinsically linked to China’s economy and policies. Stringent Covid-19 lockdown and quarantine measures have impacted luxury sales across the brands. This is reflected in the drop in organic revenues in Asia ? which fell 8 per cent in the three months to 31 December.
Dior Men FW23
LVMH reported that sales in other key markets like Europe, Japan and North America had “strong growth in business” as international travel resu...
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