LVMH reports Q1 revenue up 17% to EUR 21.04B

LVMH Moet Hennessy Louis Vuitton announced it recorded revenue of EUR 21.04B in the first quarter, up 17% compared to the same period of 2022. Organic revenue growth was 17%. "LVMH had an excellent start to the year, within a geopolitical and economic environment which remains uncertain. Europe and Japan, which enjoyed strong growth momentum, benefited from robust demand from local customers and international travelers; the United States, a market which continues to grow, had a steady performance. Asia experienced a significant rebound following the lifting of health restrictions… In an uncertain geopolitical and economic context, LVMH remains both vigilant and confident at the start of the year. The Group will continue to pursue its strategy focused on the development of its brands, driven by a sustained policy of innovation and investment as well as by a constant quest for quality in its products, their desirability and their distribution. LVMH relies on the talent and motivation of its teams, the diversity of its businesses and the good geographical balance of its revenue to further strengthen its global leadership position in luxury goods in 2023," the company stated. Reference Link