FX.co ★ LVMH 9-Month Revenues Down 2%

LVMH Moet Hennessy Louis Vuitton, a renowned luxury goods manufacturer, announced revenues totaling 60.753 billion euros for the first nine months of 2024, marking a 2% decrease from the previous year's figure of 62.205 billion euros.

When considering organic revenue, growth remained steady with no change.

Breaking down the performance across segments, the Wines & Spirits division experienced an 11% dip compared to the same period in 2023. The Fashion & Leather Goods sector saw a 3% decline in revenue for the first nine months of 2024, whereas the Perfumes & Cosmetics segment achieved a 2% increase. The Watches & Jewelry division reported a 5% drop in revenue over the same timeframe.

In light of ongoing uncertainties in economic and geopolitical landscapes, LVMH expressed confidence in its strategic approach. The company plans to continue delivering on its brand desirability by leveraging product authenticity and quality, distribution excellence, and a flexible organizational structure.