LVMH profit up 23% YoY to $22.9b in 2022

Its revenue also hit a record EUR79.2b as its market in Asia remains stable.

Luxury goods group LVMH saw its profit from recurring operations increase by 23% year-on-year (YoY) to around $22.9b (EUR21.1b) in 2022, with its revenue expanding at the same rate to reach a record of around $86.1b (EUR79.2b).

In a statement, the group said its market in Europe, the US, and Japan rose sharply due to strong demand from local customers and the recovery of international travel.

“Asia was stable over the year due to the developments in the health situation in China,” it said.

Across all business groups, all achieved significant organic revenue growth, with Fashion & Leather Goods hitting record levels with revenue growth of 20%.

For the profit from recurring operations, selective retailing led the growth with a 48% YoY increase, followed by fashion & leather goods (22%), watches & jewellery (20%), and wines & spirits (16%). Perfumes & cosmetics declined by 3%.

$1 = EUR0.92

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