LVMH Q1 revenue boosted by Sephora UK opening - Indoors Beauty

LVMH Q1 revenue boosted by Sephora UK opening

LVMH Q1 revenue boosted by Sephora UK opening

LVMH has reported revenue development of 17% to £18.4 billion (€21 billion) for the primary quarter of FY23, with an “distinctive efficiency” from Sephora boosting total gross sales. 

The group’s selective retailing enterprise noticed revenue enhance 30% to £3.4 billion (€3.9 billion). This development was pushed by Sephora because it continued to increase its distribution community, notably with the opening of its first UK retailer at Westfield London in March 2023.

The fragrance and cosmetics enterprise noticed revenues rise 11% to £1.8 billion (€2.1 billon), boosted by Christian Dior, Guerlain, Benefit Cosmetics and Fenty Beauty.

Christian Dior boasted a “exceptional efficiency”, pushed by its Sauvage, Miss Dior and J’adore fragrances. Makeup and skincare additionally contributed to the Maison’s development.

The style and leather-based items enterprise noticed revenues enhance 18% to £9.4 billion (€10.7 billion), with Louis Vuitton posting an “wonderful” begin to the 12 months. Growth was additionally pushed by Nicolas Ghesquière, Christian Dior and Celine.

The watches and jewelry enterprise recorded revenue development of 11% to £2.1 billion (€2.5 billion), boosted by luxurious manufacturers Chaumet and Fred, Tiffany & Co and Bulgari.

By area, Europe and Japan reported “sturdy” revenue development, benefiting from demand from native clients and worldwide travellers. The Asian market additionally skilled a “vital” rebound, following the lifting of well being restrictions.

Looking forward, in an unsure geopolitical and financial context, LVMH mentioned it stays “vigilant and assured”.

The group will proceed to pursue its technique centered on the event of its manufacturers, pushed by a “sustained coverage of innovation and funding in addition to by a continuing quest for high quality in its merchandise, their desirability and their distribution”.

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