lvmh it grows and will grow again. The French luxury giant registered a turnover of 56,5 billion euros in the former nine months of 2022, an increase of 28% over the same period in 2021. Organic revenue growth was 20%. In the third quarter, organic revenue growth was 19%, exceeding the consensus established by Bloomberg and Factset, which estimated 18,87 and 18,88 billion euros, respectively. And for the future? “Despite an uncertain geopolitical and economic context, the group is confident in the continuation of the current growth,” he explains in a note.
Meanwhile, Lvmh stands out among the titles of the Cac 40 and around 11 am it gained 2,47% at 625,60 euros per share.
Europe, the USA and Japan drive the good performance of Lvmh
Europe, the United States and Japan, which have grown strongly since the beginning of the year, “benefited from solid demand from local customers and the recovery in international travel”, ” and grew respectively by 43%, 19% and 32% compared to same period in 2021. Asia (including China) recorded a lower level of growth in the first nine months of 2022, “although growth in the last quarter accelerated thanks to the partial easing of health restrictions”.
Lvmh by product category
Fashion and leather goods
Fashion and leather goods, the main division of the group, continues to set records and alone achieved 9,69 billion in turnover in the third quarter (+22% organic) and 27,823 billion in the 9 months (+24%). The house “Louis Vuitton shines again”, according to the press release of Lvmh, which never details the turnover of its brands, but adds that “Christian Dior is driving remarkable growth across all of its product lines” and that “Celine is experiencing very strong growth thanks to the success of Hedi Slimane's creations, as well as Loewe, driven by the strong creativity of Jonathan Anderson. Loro Piana keeps a good pace. Fendi by Kim Jones finally celebrated the 25th anniversary of its iconic Baguette bag with an exceptional show in New York”.
Perfumes and Cosmetics
The Perfumes and Cosmetics division grew by 10% to 1,96 billion euros. Christian Dior Perfumes posted a strong performance reinforcing leadership in all key markets, followed by Guerlain e Givenchy Parfums.
Watches and Jewels, Wines and Spirits
While that of Watches and Jewels reached 2,66 billion (+16%). Tiffany & co. was driven by strong momentum in the US and also Bulgari, Chaumet e Tags this year they performed well.
The Wines and Spirits business also performed well, with sales of 1,9 billion euro, up 14%.
Sephora
The Selective Distribution (Sephora, DFS) totaled 3,46 billion euros (+15%). In the first nine months, Sephora delivered "a very good performance, with strong growth in its store activity", particularly in North America, France and the Middle East, according to the French luxury giant. DFS is impressed by the "weakness of travel, due to continued health restrictions in Asia".
