Louis Vuitton store in San Diego, California.
Kevin Curter | Getty Image Znow | Getty Image
The world’s largest luxury company LVMH On Tuesday, we reported sales higher than expected.
Brand owners, including Louis Vuitton, Moët & CHANDON, and Hennessy, have earned a profit of 846.8 billion euros in 2024 in response to the LSEG analyst forecast of 843.8 billion euros.
The company said that numbers for the whole year were equivalent to an organic growth of 1 % year -on -year.
After the first decrease since the pandemic three months ago, sales rose more than expected from the fourth quarter to December. This growth was derived by consumers in Europe, the United States, and Japanese, but the group quoted continuous weakness in a wider Asian region.
“In 2024, in an uncertain environment, LVMH showed a strong resilience. This ability to survive the storm in a very disturbed era has already been shown in many cases through the history of our group. ARNAULT, chairman and CEO of Bernard LVMH, stated in a statement, saying, ARNAULT, the chairman and CEO of Bernard LVMH.
The results were driven by the particularly solid performance of selective retail units, including Sefora, perfume and cosmetics. However, the group’s important fashion, leather products, wine and spirit segments continued to be delayed.
During the presentation immediately after the release, Arno pointed out that the company’s Cognac and Spirits were hoping to recover within two years as the new team took over.
He added that despite the ongoing geopolitical and macroeconomic uncertainty, the translation of the group’s prospects for 2025 was “starting smoothly.”
French luxury giants are considered to be a larger luxury industries, which have been facing major pressure in recent years in a wider headwind of China’s sales and headwinds of a wider macro economy.
Cartier owners supported luxurious shares earlier this month Rich mon When consumers returned to the store during the celebration, they reported their “best” quarterly sales. British fashion house Barberry On Friday, we reported a shallow DIP in the third quarter of the strategic overhaul that was shallow than expected.
However, Jeffrey’s analysts have wine, spirits, fashion and leather goods, watches, gems, cosmetics, etc., given the reach of the group, the result of LVMH is “a better luxurious trendy indicator of a wider luxury trend.” In the memo stated that it would provide. And perfume.
LVMH shares are now rising by about 18 % from the beginning of the year, decreasing by more than 13 % in 2024. Earlier this month, the group exceeded the Danish pharmaceutical giant. NOVO NORDISK To regain the title of the most valuable company in Europe.
