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LVMH’s Jewelry and Watches Division Reports 7% Organic Revenue Growth in 2023 January 30, 2024 (0 comments)


Paris, France--In 2023, LVMH Moët Hennessy Louis Vuitton achieved a significant 9 percent increase in total revenue, amounting to 86.2 billion euros ($93.5 billion), and a 13 percent organic growth.

Specifically, the Jewelry and Watches division recorded a 7 percent organic revenue growth, and a 3 percent reported growth, resulting in a revenue of 10.8 billion euros. The division's profit from recurring operations also increased by 7 percent.

Per a report in Fashion United, Bernard Arnault, Chairman and CEO of LVMH, highlighted the company's ability to maintain strong brand performance amidst challenging global conditions. The overall financial growth included an 8 percent rise in profit from recurring operations (22.8 billion euros) and net profit (15.2 billion euros).

Other segments also showed substantial growth. The Fashion & Leather Goods division reported a 14 percent organic revenue growth, with profits from recurring operations up by 7 percent, culminating in a revenue of 38.6 billion euros.

The Perfumes & Cosmetics segment achieved an 11 percent organic growth and a 7 percent reported growth, with total revenue of 7,722 million euros and an 8 percent increase in profit from recurring operations. The Selective Retailing division excelled with a 25 percent organic growth and 20 percent reported growth, achieving a revenue of 14.9 billion euros and a 76 percent increase in profit from recurring operations.

Looking forward, LVMH remains optimistic about its potential for growth in 2024, emphasizing a strategy centered around brand development, innovation, and strategic investments. The company is set to propose a dividend of 13 euros per share at the upcoming Shareholders' Meeting on April 18, 2024, following the interim dividend of 5.50 euros per share paid on December 6, 2023, and the final dividend of 7.50 euros per share scheduled for April 25, 2024.

Learn more in the report in Fashion United.

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