LVMH Moët Hennessy Louis Vuitton recorded revenue of 18 billion euros ($19.5 billion) in the first quarter of 2022, up 29% compared to the same period in 2021.
 
Despite 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.

Perfumes & Cosmetics

In Perfumes & Cosmetics, organic revenue growth was 17% in the first quarter of 2022 compared to the same period of 2021.
 
The business group enjoyed strong momentum thanks to sustained growth in perfume and makeup, particularly in the United States. Christian Dior achieved remarkable growth and gained market share, benefiting from the progress of its iconic fragrances Sauvage, Miss Dior and J’Adore, and its makeup. Guerlain successfully rolled out its Aqua Allegoria line and its new collection of fine perfumery l’Art et la Matière. Its Abeille Royale skincare line also contributed to the performance of the Maison. Parfums Givenchy unveiled its new eau de toilette Fraîche Irresistible. Maison Francis Kurkdjian continued to see rapid growth.
 
“In the current geopolitical context and in light of the ongoing impact of the pandemic, LVMH remains both vigilant and confident at the beginning of this year,” the Group stated.
 
Furthermore, the Group says it will continue to pursue its strategy focused on the development of its brands, driven by strong innovation and investment as well as a constant quest for quality in its products and their distribution.

Statement on Ukraine

LVMH says it is closely monitoring developments in Ukraine and the region. Its first priority was to ensure the safety of its employees in Ukraine and to provide them with all the necessary financial and operational assistance.
 
Read More: See how the beauty industry is taking a stand against Russia and supporting the people in Ukraine.