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French luxury group LVMH's revenue climbs 17% in Q1 FY23

13 Apr '23

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French luxury fashion group LVMH recorded €21 billion revenue in Q1 FY23, a 17 per cent YoY growth, despite the uncertain geopolitical and economic environment.
The fashion and leather goods business group saw 18 per cent YoY growth to €10.72 billion, while the selective retailing segment recorded 30 per cent YoY growth to €3.96 billion.

French luxury fashion group LVMH Moet Hennessy Louis Vuitton has recorded a revenue of €21 billion in the first quarter (Q1) of fiscal 2023 (FY23), marking a growth of 17 per cent from the same period last year. The organic revenue growth was also 17 per cent year-on-year (YoY). This growth was achieved despite the uncertain geopolitical and economic environment that prevails.

In Q1 FY23, the company witnessed robust demand from local customers and international travellers in Europe and Japan, which enjoyed strong growth momentum. The US market also saw steady performance, while Asia experienced a significant rebound following the lifting of health restrictions.

The fashion and leather goods business group also recorded an impressive 18 per cent YoY revenue growth to €10.72 billion in Q1 FY23, which was also an 18 per cent YoY organic growth. Fendi, a part of the group, opened new stores in Tokyo and Seoul, the company said in a press release.

In the selective retailing segment, LVMH recorded a revenue growth of 30 per cent YoY to €3.96 billion in the first quarter of FY23, which was 28 per cent YoY organically.

Fibre2Fashion News Desk (DP)

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