{"id":60582,"date":"2024-10-16T00:05:01","date_gmt":"2024-10-16T00:05:01","guid":{"rendered":"https:\/\/english.saigonbiz.com.vn\/2024\/10\/16\/lvmh-shows-good-resilience-in-the-current-context\/"},"modified":"2024-10-16T00:05:01","modified_gmt":"2024-10-16T00:05:01","slug":"lvmh-shows-good-resilience-in-the-current-context","status":"publish","type":"post","link":"https:\/\/english.saigonbiz.com\/vn\/lvmh-shows-good-resilience-in-the-current-context\/","title":{"rendered":"LVMH shows good resilience in the current context"},"content":{"rendered":"
\n

Paris, October 15, 2024<\/p>\n

LVMH Mo\u00ebt Hennessy Louis Vuitton, the world\u2019s leading high-quality products group, recorded revenue of \u20ac60.8\u00a0billion in the first nine months of 2024, stable on a constant consolidation scope and currency basis despite the current context and a high basis of comparison, following several years of exceptional post-Covid growth. Europe and the United States posted slight growth on a constant consolidation scope and currency basis; Japan continued to achieve double-digit revenue growth; the rest of Asia reflected in particular the strong growth in spending by Chinese customers in Europe and Japan.
In the third quarter, the slight decline in revenue mainly arose from lower growth seen in Japan, essentially due to the stronger yen.<\/p>\n

Revenue <\/strong>by business group changed as follows:<\/p>\n\n\n\n\n\n\n\n\n\n
In millions of euros<\/em> <\/td>\n 9 months 2023<\/strong> <\/td>\n 9 months 2024<\/strong> <\/td>\n Change: <\/strong>
First 9 months<\/strong>
2024\/2023<\/strong>
Reported \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Organic* <\/td>\n<\/tr>\n
Wines & Spirits <\/td>\n 4 689 <\/td>\n 4 193 <\/td>\n -11% <\/td>\n -8% <\/td>\n<\/tr>\n
Fashion & Leather Goods <\/td>\n 30 912 <\/td>\n 29 922 <\/td>\n -3% <\/td>\n -1% <\/td>\n<\/tr>\n
Perfumes & Cosmetics <\/td>\n 6 021 <\/td>\n 6 148 <\/td>\n +2% <\/td>\n +5% <\/td>\n<\/tr>\n
Watches & Jewelry <\/td>\n 7 951 <\/td>\n 7 536 <\/td>\n -5% <\/td>\n -3% <\/td>\n<\/tr>\n
Selective Retailing <\/td>\n 12 431 <\/td>\n 12 559 <\/td>\n +1% <\/td>\n +6% <\/td>\n<\/tr>\n
Other activities and eliminations <\/td>\n 201 <\/td>\n 395 <\/td>\n – <\/td>\n – <\/td>\n<\/tr>\n
Total LVMH<\/strong> <\/td>\n 62 205<\/strong> <\/td>\n 60 753<\/strong> <\/td>\n -2%<\/strong> <\/td>\n +0%<\/strong> <\/td>\n<\/tr>\n<\/table>\n

* On a constant consolidation scope and currency basis. For the Group, the impact of changes in scope with respect to the first nine months of 2023 was -1%; the impact of exchange rate fluctuations was -2%.<\/em><\/p>\n

The Wines & Spirits <\/strong>business group saw a revenue decline (-8% organic) in the first nine months of 2024. Champagne was down, reflecting the ongoing normalization of post-Covid demand, but remained significantly higher than in 2019. Hennessy cognac was held back by weak local demand in the Chinese market, while the United States saw a return to growth in the second quarter, in a market that remained cautious. In Provence ros\u00e9 wines, Ch\u00e2teau d\u2019Esclans stepped up its international expansion. The joint venture with Beyonc\u00e9 Knowles-Carter gave rise to a new American whisky, SirDavis. A strategic partnership with French Bloom, the market leader in premium alcohol-free sparkling wine, was also announced.<\/p>\n

The Fashion & Leather Goods <\/strong>business group, which was broadly stable on an organic basis over the first nine months of 2024, showed good resilience and gained market share. Louis Vuitton and Christian Dior both enjoyed high visibility over the summer with the Paris 2024 Olympic and Paralympic Games. Louis Vuitton was once again driven by its remarkable capacity for innovation in the world of travel. Many new products were unveiled in leather goods. Victory travels in Louis Vuitton: bespoke trunks, handcrafted in its historic Asni\u00e8res workshops, held the world\u2019s most prestigious sports trophies, such as those of the Louis Vuitton Cup and the 37th America\u2019s Cup in Barcelona, as well as the torches and medals of the Paris 2024 Olympic and Paralympic Games. Christian Dior maintained its creative momentum, fusing heritage and modernity, as seen in its new Miss Dior <\/em>line. The L\u2019Or de Dior<\/em> exhibition at the Guardian Art Center in Beijing honored the Maison\u2019s strong ties with China through the prism of art. New My Dior<\/em> designs featuring Dior\u2019s iconic cannage <\/em>stitching celebrated and reinterpreted traditional jewelry-making craftsmanship. Loro Piana, Loewe and Rimowa confirmed their solid momentum. The Group welcomed two new creative directors: Michael Rider at Celine and Sarah Burton at Givenchy.<\/p>\n

The Perfumes & Cosmetics <\/strong>business group achieved organic revenue growth of 5% in the first nine months of 2024, driven by its powerful innovation strategy and highly selective distribution policy. Christian Dior achieved an excellent performance. Sauvage<\/em> continued to achieve solid growth, consolidating its position as the world\u2019s leading fragrance, while Rihanna became the new face of iconic women\u2019s perfume J\u2019adore<\/em>. The new Miss Dior Parfum <\/em>edition was a major success. Makeup and premium skincare also contributed to the Maison\u2019s strong performance. Guerlain enjoyed solid momentum in fragrances, driven in particular by its exceptional L\u2019Art & La Mati\u00e8re <\/em>collection and the addition of its new Florabloom<\/em> scent to the Aqua Allegoria<\/em> line. Givenchy continued to see growth, driven by its new L\u2019Interdit Absolu<\/em> fragrance. Fenty Beauty launched a new range of haircare products and expanded its retail presence in China.<\/p>\n

The Watches & Jewelry <\/strong>business group saw a slight decline on an organic basis in the first nine months of 2024. Tiffany & Co. continued to showcase its iconic lines through its global \u201cWith Love, Since 1837\u201d campaign. The new Tiffany Titan by Pharrell Williams<\/em> collection was exceptionally well received, while the Maison celebrated the 50th anniversary of the first pieces designed by Elsa Peretti. It continued to successfully roll out its new store concept in its main markets. Bulgari celebrated its 140th\u00a0anniversary with Zendaya, Anne Hathaway and Yifei, who starred in the \u201cEternally Reborn\u201d brand campaign. This celebration included the launch of a new jewelry collection, Bulgari Tubogas<\/em>, inspired by the 1940s icon, reinterpreted in a bold, timeless yellow gold edition. Chaumet enjoyed high visibility during the summer with the awarding of the medals for the Paris 2024 Olympic and Paralympic Games, created by its design studio.
The announcement of LVMH\u2019s 10-year global partnership with Formula\u00a01 was a major highlight, in which several of LVMH\u2019s iconic Maisons \u2013 in particular Louis Vuitton, Mo\u00ebt Hennessy and TAG Heuer \u2013 will be involved starting in 2025.<\/p>\n

In Selective Retailing<\/strong>, organic revenue growth was 6% in the first nine months of 2024. Sephora performed remarkably well and continued to gain market share in North America, Europe and the Middle East. DFS saw business activity remain below its 2019 pre-Covid level, with marked differences in tourist traffic between its various destinations. Le Bon March\u00e9 continued to achieve growth, driven by the department store\u2019s differentiation strategy, with its continuously renewed selection of products and services and unique slate of events.<\/p>\n

OUTLOOK<\/strong><\/p>\n

In an uncertain economic and geopolitical environment, the Group remains confident and will maintain a strategy focused on continuously enhancing the desirability of its brands, drawing on the authenticity and quality of its products, excellence in distribution and agile organization.
LVMH will draw on its powerful brands and the talent of its teams to reinforce its global leadership position in luxury goods once again in 2024.<\/p>\n

Apart from the information mentioned in this press release, during the quarter and to date, no events or changes have occurred that could significantly modify the Group\u2019s financial structure.<\/em>
Regulated information related to this press release and presentation is available at <\/em>www.lvmh.com.<\/em><\/a><\/p>\n

Details from the webcast on the publication of revenue for the third quarter of 2024 are available at <\/em>www.lvmh.com<\/em><\/a>. <\/p>\n

APPENDIX<\/strong><\/p>\n

LVMH \u2013 Revenue by business group and by quarter<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Revenue for 2024 (in millions of euros)<\/strong> <\/td>\n<\/tr>\n
2024<\/em><\/strong><\/p>\n

\u00a0 <\/td>\n

 Wines & Spirits <\/td>\n Fashion & Leather Goods <\/td>\n Perfumes & Cosmetics <\/td>\n Watches & Jewelry <\/td>\n Selective Retailing <\/td>\n Other activities and eliminations <\/td>\n Total<\/strong><\/p>\n

\u00a0 <\/td>\n<\/tr>\n

First quarter <\/td>\n 1 417 <\/td>\n 10 490 <\/td>\n 2 182 <\/td>\n 2 466 <\/td>\n 4 175 <\/td>\n (36) <\/td>\n 20 694<\/strong> <\/td>\n<\/tr>\n
Second quarter <\/td>\n 1 391 <\/td>\n 10 281 <\/td>\n 1 953 <\/td>\n 2 685 <\/td>\n 4 457 <\/td>\n 216 <\/td>\n 20 983<\/strong> <\/td>\n<\/tr>\n
First half<\/strong> <\/td>\n 2 807<\/strong> <\/td>\n 20 771<\/strong> <\/td>\n 4 136<\/strong> <\/td>\n 5 150<\/strong> <\/td>\n 8 632<\/strong> <\/td>\n 181<\/strong> <\/td>\n 41 677<\/strong> <\/td>\n<\/tr>\n
Third quarter <\/td>\n 1 386 <\/td>\n 9 151 <\/td>\n 2 012 <\/td>\n 2 386 <\/td>\n 3 927 <\/td>\n 214 <\/td>\n 19 076<\/strong> <\/td>\n<\/tr>\n
First nine months<\/strong> <\/td>\n 4 193<\/strong> <\/td>\n 29 922<\/strong> <\/td>\n 6 148<\/strong> <\/td>\n 7 536<\/strong> <\/td>\n 12 559<\/strong> <\/td>\n 395<\/strong> <\/td>\n 60 753<\/strong> <\/td>\n<\/tr>\n
Revenue for 2024 (organic growth versus same period in 2023)<\/strong> <\/td>\n<\/tr>\n
2024<\/em><\/strong><\/p>\n

\u00a0 <\/td>\n

 Wines & Spirits <\/td>\n Fashion & Leather Goods <\/td>\n Perfumes & Cosmetics <\/td>\n Watches & Jewelry <\/td>\n Selective Retailing <\/td>\n Other activities and eliminations <\/td>\n Total<\/strong><\/p>\n

\u00a0 <\/td>\n<\/tr>\n

First quarter <\/td>\n -12% <\/td>\n +2% <\/td>\n +7% <\/td>\n -2% <\/td>\n +11% <\/td>\n – <\/td>\n +3%<\/strong> <\/td>\n<\/tr>\n
Second quarter <\/td>\n -5% <\/td>\n +1% <\/td>\n +4% <\/td>\n -4% <\/td>\n +5% <\/td>\n – <\/td>\n +1%<\/strong> <\/td>\n<\/tr>\n
First half<\/strong> <\/td>\n -9%<\/strong> <\/td>\n +1%<\/strong> <\/td>\n +6%<\/strong> <\/td>\n -3%<\/strong> <\/td>\n +8%<\/strong> <\/td>\n –<\/strong> <\/td>\n +2%<\/strong> <\/td>\n<\/tr>\n
Third quarter <\/td>\n -7% <\/td>\n -5% <\/td>\n +3% <\/td>\n -4% <\/td>\n +2% <\/td>\n – <\/td>\n -3%<\/strong> <\/td>\n<\/tr>\n
First nine months<\/strong> <\/td>\n -8%<\/strong> <\/td>\n -1%<\/strong> <\/td>\n +5%<\/strong> <\/td>\n -3%<\/strong> <\/td>\n +6%<\/strong> <\/td>\n – <\/td>\n +0%<\/strong> <\/td>\n<\/tr>\n
Revenue for 2023 (in millions of euros)<\/strong> <\/td>\n<\/tr>\n
2023<\/em><\/strong><\/p>\n

\u00a0 <\/td>\n

 Wines & Spirits <\/td>\n Fashion & Leather Goods <\/td>\n Perfumes & Cosmetics <\/td>\n Watches & Jewelry <\/td>\n Selective Retailing <\/td>\n Other activities and eliminations <\/td>\n Total<\/strong><\/p>\n

\u00a0 <\/td>\n<\/tr>\n

First quarter <\/td>\n 1 694 <\/td>\n 10 728 <\/td>\n 2 115 <\/td>\n 2 589 <\/td>\n 3 961 <\/td>\n (52) <\/td>\n 21 035<\/strong> <\/td>\n<\/tr>\n
Second quarter <\/td>\n 1 486 <\/td>\n 10 434 <\/td>\n 1 913 <\/td>\n 2 839 <\/td>\n 4 394 <\/td>\n 140 <\/td>\n 21 206<\/strong> <\/td>\n<\/tr>\n
First half<\/strong> <\/td>\n 3 181<\/strong> <\/td>\n 21 162<\/strong> <\/td>\n 4 028<\/strong> <\/td>\n 5 427<\/strong> <\/td>\n 8 355<\/strong> <\/td>\n 87<\/strong> <\/td>\n 42 240<\/strong> <\/td>\n<\/tr>\n
Third quarter <\/td>\n 1 509 <\/td>\n 9 750 <\/td>\n 1 993 <\/td>\n 2 524 <\/td>\n 4 076 <\/td>\n 113 <\/td>\n 19 964<\/strong> <\/td>\n<\/tr>\n
First nine months<\/strong> <\/td>\n 4 689<\/strong> <\/td>\n 30 912<\/strong> <\/td>\n 6 021<\/strong> <\/td>\n 7 951<\/strong> <\/td>\n 12 431<\/strong> <\/td>\n 201<\/strong> <\/td>\n 62 205<\/strong> <\/td>\n<\/tr>\n<\/table>\n

As table totals are calculated based on unrounded figures, there may be slight discrepancies between these totals and the sum of their component figures.<\/em><\/p>\n

LVMH<\/strong><\/p>\n

LVMH Mo\u00ebt Hennessy Louis Vuitton is represented in Wines and Spirits by a portfolio of brands that includes Mo\u00ebt & Chandon, Dom P\u00e9rignon, Veuve Clicquot, Krug, Ruinart, Mercier, Ch\u00e2teau d\u2019Yquem, Domaine du Clos des Lambrays, Ch\u00e2teau Cheval Blanc, Colgin Cellars, Hennessy, Glenmorangie, Ardbeg, Belvedere, Woodinville, Volc\u00e1n de Mi Tierra, Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Newton, Bodega Numanthia, Ao Yun, Ch\u00e2teau d\u2019Esclans, Ch\u00e2teau Galoupet, Joseph Phelps and Ch\u00e2teau Minuty. Its Fashion and Leather Goods division includes Louis Vuitton, Christian Dior, Celine, Loewe, Kenzo, Givenchy, Fendi, Emilio Pucci, Marc Jacobs, Berluti, Loro Piana, RIMOWA, Patou, Barton Perreira and Vuarnet. LVMH is present in the Perfumes and Cosmetics sector with Parfums Christian Dior, Guerlain, Parfums Givenchy, Kenzo Parfums, Perfumes Loewe, Benefit Cosmetics, Make Up For Ever, Acqua di Parma, Fresh, Fenty Beauty by Rihanna, Maison Francis Kurkdjian and Officine Universelle Buly. LVMH’s Watches and Jewelry division comprises Bulgari, Tiffany & Co., TAG Heuer, Chaumet, Zenith, Fred and Hublot. LVMH is also active in selective retailing as well as in other activities through DFS, Sephora, Le Bon March\u00e9, La Samaritaine, Groupe Les Echos-Le Parisien, Paris Match, Cova, Le Jardin d\u2019Acclimatation, Royal Van Lent, Belmond and Cheval Blanc hotels.<\/em><\/p>\n

\u201cThis document may contain certain forward looking statements which are based on estimations and forecasts. By their nature, these forward looking statements are subject to important risks and uncertainties and factors beyond our control or ability to predict, in particular those described in LVMH\u2019s Universal Registration Document which is available on the website (<\/em>www.lvmh.com<\/a>). These forward looking statements should not be considered as a guarantee of future performance, the actual results could differ materially from those expressed or implied by them. The forward looking statements only reflect LVMH\u2019s views as of the date of this document, and LVMH does not undertake to revise or update these forward looking statements. The forward looking statements should be used with caution and circumspection and in no event can LVMH and its Management be held responsible for any investment or other decision based upon such statements. The information in this document does not constitute an offer to sell or an invitation to buy shares in LVMH or an invitation or inducement to engage in any other investment activities.\u201d<\/em><\/p>\n

LVMH CONTACTS <\/strong><\/p>\n\n\n\n\n\n\n
Analysts and investors<\/strong>
Rodolphe Ozun<\/em>
LVMH
+ 33 1 44 13 27 21 <\/td>\n		 Media<\/strong>
Jean-Charles Tre\u0301han<\/em>
LVMH
+ 33 1 44 13 26 20 <\/td>\n<\/tr>\n
\u00a0<\/p>\n

MEDIA CONTACTS <\/strong> <\/td>\n

 \u00a0 <\/td>\n<\/tr>\n
France<\/strong>
Charlotte Marin\u00e9 \/ <\/em>+33 6 75 30 43 91
Axelle Gadala \/ <\/em>+33 6 89 01 07 60
Publicis Consultants
+33 1 44 82 46 05 <\/td>\n		 France<\/strong>
Michel Calzaroni \/ <\/em>+ 33 6 07 34 20 14
Olivier Labesse \/ Hugues Schmitt \/ Thomas Roborel de Climens <\/em>\/\u00a0+ 33 6 79 11 49 71 <\/td>\n<\/tr>\n
Italy<\/strong>
Michele Calcaterra \/ Matteo Steinbach<\/em>
SEC and Partners
+ 39 02 6249991 <\/td>\n		 UK<\/strong>
Hugh Morrison \/ Charlotte McMullen<\/em>
Montfort Communications
+ 44 7921 881\u00a0800 <\/td>\n<\/tr>\n
US<\/strong>
Nik Deogun \/ Blake Sonnenshein<\/em>
Brunswick Group
+ 1 212 333 3810<\/p>\n

\u00a0 <\/td>\n

 China<\/strong>
Daniel Jeffreys<\/em>
Deluxewords
+ 44\u00a0772\u00a0212 6562
+ 86 21 80 36 04 48 <\/td>\n<\/tr>\n<\/table>\n

\u00a0<\/p>\n

\n Attachment<\/strong>\n<\/p>\n