LVMH Reports Record Sales and Profit in 2023

Despite Luxury Market Slowdown, High-End Products and Affluent Consumers Drive Growth

LVMH, the world's largest luxury goods group, reported a 10% surge in sales for the fourth quarter of 2023, outpacing previous quarters and analyst forecasts.
The company's full-year operating profit climbed by 8% to reach €22.8 billion, marking an organic increase of 13% compared to 2022.
Strong performance was noted across all divisions, with the highest growth in its selective retailing division, which includes Sephora, DFS and Belmond Hotels.
LVMH's CEO Bernard Arnault highlighted the exceptional appeal of their brands and expressed confidence in the outlook for 2024.
Despite a luxury market slowdown, LVMH's resilience is attributed to its exposure to affluent consumers and high-end products.