LVMH exceeds 23,000 million dollars in sales in the first quarter of 2023

French multinational LVMHworld number one in luxury, announced this Wednesday that it had further increased its sales in the first quarter of this year, reaching a record figure of 21.030 million euros (about 23.120 million dollars).

This figure increased 17% in one year, thanks above all to the fashion and leather goods sectors, but also to “duty free” sales.

LVMH is having an excellent start to the year in a geopolitical and economic context that remains uncertain,” the group, which calls itself “vigilant and confident,” congratulated itself in a statement.

Fashion and leather goods (Louis Vuitton, Dior, Celine, Fendi), the flagship division of LVMH, made more than 11 billion dollars in sales in the first quarter (at an exchange rate of 1 euro = 1.1 dollars), a growth of 18% compared to the first quarter of 2022.

Distribution, which includes the perfumery chain Sephora y DFS (the duty free), saw its sales increase 30%, reaching 4,000 million euros, thanks to “exceptional results” from Sephora, especially in North America, Europe and the Middle East.

The brand, already present online in the UK, opened its first store in London at the beginning of March.

DFS, the duty free, benefits from the resumption of international travel and the progressive return of travelers to the emblematic destinations of Hong Kong and Macao.

The watches and jewelry division increased 11% to reach 2.6 billion euros in sales, while perfumes and cosmetics, also up 11%, reached 2.1 billion euros.

The Wines and Spirits activity (Moët & ChandonVeuve Cliquot, Cheval Blanc, Ruinart…) shows a turnover of 1.7 billion euros, an increase of 3 percent.

LVMH surpassed the threshold of 400,000 million euros of market capitalization in January, a level never reached by a European company.