LVMH Reports Increased Revenues of €19.96 Billion EUR in 2023 Q3

LVMH Moët Hennessy Louis Vuitton revealed its third-quarter financial results on Tuesday, reporting a 1% increase in revenues as inflation and heightened interest rates continue to influence consumer purchasing decisions.

Home to more than 75 brands, including Louis Vuitton, Dior and Tiffany & Co., LVMH recorded revenues of €19.96 billion EUR in the three months ending on September 30. While the figure marks a small increase from last quarter’s tally, it did fall below Bloomberg’s consensus estimate of €21.15 billion EUR, per WWD.

LVMH’s 2023 Q3 revenues are up 9% from those reported during the same period in 2022. However, the luxury conglomerate’s 2023 Q2 results increased by 17% year-on-year, meaning the company experienced a slow-down on a quarter-to-quarter basis.

From a divisional perspective, LVMH’s fashion and leather goods category reported €9.75 billion EUR in sales, earning a 9% increase from last year’s numbers. While the results were positive, it’s worth noting that the division reported a much-higher 21% increase in the last quarter. Additionally, this quarter’s results fell below the Bloomberg consensus estimate of 11.2% growth.

Elsewhere, the perfumes and cosmetics category reported a 9% increase; selective retailing skyrocketed by 26%; watches and jewelry saw a 3% increase, and wines and spirits fell by 14%.

See LVMH’s full 2023 Q3 report on the company’s website.

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