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Group reports 10% organic growth and a positive result from its LIFE 260 environmental program.
January 29, 2024
By: Rachel Klemovitch
Assistant Editor
LVMH Moët Hennessy Louis Vuitton released financial results for 2023, recorded revenue of 93.2 billion in 2023, a 13% organic growth from 2022, with double-digit organic growth in Europe and Asia. The fourth quarter received 10% organic growth. The Group highlighted Sephora’s strong presence in 2023, as well as success in fragrance and make up sales, with Dior’s Sauvage as the world’s best-selling fragrance in 2023, according to LVMH. In 2023, LVMH also launched its LIFE 260 Business Partners plan to assist partners and supplier to reduce Scope 3 impacts relating to raw materials and transport. The Group’s environmental program as a whole also made progress towards its targets for 2026 and 2030 in protection of wildlife, improvement towards renewable energy and a decrease in CO2 emissions. LVMH reported an increase in sales of perfumes and cosmetics in the past year. Fragrance and skin care brands contributed to the growth of organic revenue. Rhianna’s Fenty Beauty also drove growth, particularly with its latest mascara launch. With an increase of shares based on the final results for 2023, LVMH “enters 2024 with confidence.” See here for full financial results.
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