Lvmh: net profit in the first half jumped to 8.48 billion (+30%). The business is growing in Europe and Asia

French luxury giant Lvmh continues its rise by scoring a Turnover increased 15% to 42.2 billion of the euro and a Net profit of 8.48 billion, up 30% compared to the same period in 2022. In the second quarter, organic revenue growth was 17%, in line with first quarter trends.

Balzano A Double digits in all sectors except wines and spirits Slight decrease in revenue (3% membership). And but she The leading fashion and leather segment scores the best performances (+17%) Which generated €21 billion in sales through its prestigious brands such as Louis Vuitton, Christian Dior, Celine, Loro Piana, Loewe and Marc Jacobs and an organic growth of 20%. Louis Vuitton opened a new chapter with the arrival of Pharrell Williams as Men’s Creative Director, while Christian Dior continued to enjoy remarkable growth across its product categories. Also strong momentum for perfumes and cosmetics Which represents organic revenue growth of 13% in the first half of 2023 thanks to innovation, along with a “highly selective distribution policy,” reads a note from the group. Watches and jewelry revenue also increased by 13%. to 5.4 billion euros thanks to “a strong creative leap, especially for Tiffany, Bulgari and Tag Heuer” explains the company, which also showed excellent results for Sephora and a significant increase in business in Europe and Asia.

LVMH has achieved impressive results during a six-month period of ongoing economic and geopolitical uncertainty. The strong creative impetus and stellar distribution of our homes continued to inspire dreams, as evidenced by the enthusiastic reception to Pharrell Williams’ first fashion show for Louis Vuitton and the reopening of Tiffany & Co.’s Landmark in New York.” President and CEO Bernard Arnault which also referred to i Progress in environmental and social changeAs in the case of the recent announcement of an ambitious plan to reduce total water consumption by 30% by 2030. “Thanks to the charisma of our brands – added Arnault -, we approach the second half of the year with confidence and optimism, but we will remain vigilant in the current context and will rely on the flexibility and talent of our teams to further consolidate our position as the global leader in luxury goods in 2023.