French luxury group LVMH’s revenue grows 23% to €79.2 bn in FY22

The firm’s working margin remained on the similar degree as FY21. Furthermore, the working free money circulate surpassed €10 billion in FY22, LVMH stated in a press launch.

Leading luxury items group based mostly in France LVMH Moet Hennessy Louis Vuitton has reported a revenue development of 23 per cent year-on-year (YoY) to €79.2 billion in monetary 12 months 2022 (FY22). Profit from recurring operations was €21.1 billion in FY22, up by 23 per cent. The firm’s group share of internet revenue was €14.1 billion, up 17 per cent in contrast to FY21.

LVMH’s style and leather-based items notably reached document ranges, with revenue development of 25 per cent in FY22 (20 per cent on an natural foundation). Profit from recurring operations was up 22 per cent.

In FY22, Louis Vuitton’s revenue surpassed €20 billion, for the primary time.

LVMH’s Le Bon Marché continued to develop revolutionary ideas and profit from the return of loyal French prospects and worldwide travellers.

The firm’s enterprise in Europe, the US, and Japan rose sharply, benefiting from robust demand from native prospects and the restoration of worldwide journey. Asia was steady over the 12 months due to developments in the well being state of affairs in China.

Bernard Arnault, chairman and CEO of LVMH, stated: “Our performance in 2022 illustrates the exceptional appeal of our masons and their ability to create desire during a year affected by economic and geopolitical challenges. The group once again recorded significant growth in revenue and earnings. Our growth strategy, based on the complementary nature of our activities, as well as their geographic diversity, encourages innovation and the quality of our creations, the excellence of their distribution, and adds a cultural and historical dimension thanks to the heritage of our masons.

“We approach 2023 with confidence but remain vigilant due to current uncertainties. We count on the desirability of our masons and the agility of our teams to further strengthen our lead in the global luxury market and support France’s prestige throughout the world.”

Fibre2Fashion News Desk (DP)