LVMH revenue falls despite "remarkable growth" at Sephora - Indoors Beauty

LVMH revenue falls despite “remarkable growth” at Sephora

LVMH revenue falls despite “remarkable growth” at Sephora

LVMH has reported a 2% lower in revenue to €20.7 billion for the primary quarter of 2024, despite development throughout its magnificence companies. Organic group revenue elevated by simply 2%.

The firm stated it had a “good begin” to the 12 months despite a geopolitical and financial surroundings that is still unsure.

The perfumes and cosmetics enterprise noticed reported revenues rise 5% and natural revenues rise 7% to €2.1 billion. This was attributed to the group’s “revolutionary momentum and selective distribution technique”.

Growth was pushed by Christian Dior throughout perfume, make-up and skincare, in addition to Guerlain, Givenchy and Maison Francis Kurkdjian.

The selective retailing enterprise additionally reported revenue up 5% on a reported foundation and 11% organically to €4.1 billion, with Sephora as soon as once more attaining “exceptional development”. It comes as the worldwide magnificence large prepares to open further UK shops later this 12 months.

However, the group’s trend and leather-based items enterprise noticed revenues drop 2% to €10.4 billion on a reported foundation. Organic gross sales elevated 2% however remained decrease than share development within the earlier quarter.

The watches and jewelry enterprise additionally shared reported revenue declines of 5% to €2.4 billion, with natural gross sales down 2%.

Looking forward, in an unsure financial and geopolitical surroundings, LVMH stated it stays “vigilant” and “assured” at the beginning of the 12 months.

The firm added that it’ll proceed to pursue its technique targeted 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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