14 January, 2023 - 17 January, 2023
Riva del Garda, Italy
01 February, 2023 - 02 February, 2023
New York, United States
13 March, 2023 - 15 March, 2023
22 April, 2023 - 26 April, 2023
North Carolina, USA
17 June, 2023 - 20 June, 2023
Riva del Garda , Italy
Luxury group LVMH has reported its financial results for the first quarter of 2022, with recorded revenue of €18 billion, up 29% year-on-year.
Overall, the group reported that it had a good start to the year against a backdrop of continued disruption from the health crisis and marked by the dramatic events in Ukraine. All business groups achieved double-digit revenue growth, except for Wines & Spirits, which continued to see supply constraints.
The Fashion & Leather Goods business group reports organic revenue growth of 30% in the first quarter. Revenue was €9.12 billion, up 35% on a reported basis from a result of €6.74 billion in the same period in 2021.
LVMH highlighted Louis Vuitton’s strong start to the year, inaugurating two two new precious leather workshops in France. Meanwhile, Christian Dior also enjoyed good performance, reopening the historic birthplace of the Maison at 30 Avenue Montaigne in Paris after two years of renovation.
Fendi recorded solid growth, the group reported, driven by the success of Kim Jones’ collections. Celine also achieved good growth in the quarter thanks to the success of ready-to-wear and leather goods lines designed by Hedi Slimane, while Loro Piana, Loewe with J.W. Anderson and Marc Jacobs all had a very good quarter.
LVMH reports that it remains vigilant in light of the current geopolitical context and ongoing impact of the pandemic, and the group will continue to pursue brand development strategies with strong innovation and investment through the second quarter of 2022.