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LVMH off to a good start in 2022

Apr 14, 2022 France
LVMH off to a good start in 2022
The luxury group reported revenue growth in the first quarter of 2022, but remains vigilant due to "the current geopolitical context and the ongoing impact of the pandemic”, especially in China
"LVMH 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 United States and Europe also achieved double-digit revenue growth; Asia continued to grow over the quarter despite the impact of a tightening of health restrictions in China in March", informed the group.

Overall, in the first quarter of 2022, LVMH group’s revenue totalled 18 billion euros, which reflects an increase of 29%, as compared to the same period in 2021. Organic revenue growth was 23%.


Fashion & Leather Goods Segment

The business segment recorded revenue growth of 35% in the first quarter of 2022, reaching  9.12 billion euros, on a comparable basis to similar period of fiscal 2021. Organic revenue growth corresponded to 30%.

The group detailed that Louis Vuitton had an excellent start to the year, "driven as always by its creativity" and Christian Dior "enjoyed a remarkable performance", as its historic birthplace at 30 Avenue Montaigne in Paris reopened after two years of renovations. Fendi reported "solid growth, driven in particular by the success of Kim Jones’ collections", and Celine "achieved very strong growth thanks to the remarkable success of its ready-to-wear and leather goods lines designed by Hedi Slimane". Loro Piana, Loewe with J.W. Anderson, and Marc Jacobs all had good performances in the quarter.


Image Credits: anneofcarversville.com


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