LVMH, the renowned luxury goods conglomerate, has announced its financial results for the first nine months of 2023, showcasing remarkable revenue achievements and robust organic growth. The company reported total revenue of 62.205 billion euros ($65.9 billion) during this period, representing a organic growth of 14% year-on-year.
Within the Perfumes & Cosmetics business, LVMH experienced exceptional performance, generating revenue of 6.021 billion euros ($6.38 billion) and achieving a commendable organic revenue growth rate of 12%. This success can be attributed to the group’s unwavering commitment to innovation and its highly selective distribution strategy.
Christian Dior, a prominent brand under the LVMH umbrella, delivered outstanding results, bolstering its position in key markets. The Fragrances segment witnessed substantial growth, driven by the resounding success of its women’s scents, Miss Dior and J’adore. The introduction of Francis Kurkdjian’s latest creation, L’Or de J’adore, along with the continued worldwide popularity of Sauvage, further contributed to Dior’s triumph. Additionally, Dior Addict in makeup and Prestige in skincare played pivotal roles in the Maison’s rapid growth.
Guerlain also experienced significant expansion, primarily fueled by the immense popularity of its Aqua Allegoria scents and the premium fragrance collection, l’Art et la Matière. The exceptional response to its Terracotta Le Teint makeup line further propelled Guerlain’s success. Parfums Givenchy enjoyed buoyant growth, thanks to the ongoing triumph of its fragrances.
Benefit, another brand within the LVMH portfolio, witnessed substantial growth driven by the successful launch of its new Fan Fest mascara and the high demand for Pore Care products.
In terms of regional performance, the United States demonstrated steady growth, with a 3% year-on-year increase in the first nine months of 2023. Meanwhile, Japan emerged as the fastest-growing market, achieving an impressive 31% growth rate. The rest of Asia, excluding Japan, also experienced significant expansion, with a robust 19% year-on-year increase.