LVMH: more than 21 billion euros in sales in the first quarter of 2023, up 17%

The world number one in luxury LVMH announced on Wednesday that it had achieved 21.03 billion euros in turnover in the first quarter of 2023, an increase of 17% over one year, driven by fashion and leather goods but also by sales. duty

and Sephora.

"

", welcomes the group in a press release, which says it is "

".

The sales are higher than the consensus of analysts established by Bloomberg and Factset, which were counting respectively on 19.71 and 19.98 billion euros.

Fashion and leather goods (Louis Vuitton, Dior, Celine, Fendi, etc.), LVMH's flagship division, achieved more than 10 billion euros in sales in the first quarter, an increase of 18% compared to the first quarter. 2022.

Louis Vuitton, which in 2023 exceeded 20 billion euros in sales in 2022, "

", according to LVMH, which only exceptionally details the sales of its brands.

Musician, producer and stylist Pharrell Williams was appointed in February as the new artistic director of Vuitton menswear to succeed Virgil Abloh, who died suddenly in November 2021.

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400 billion euros in market capitalization

Christian Dior, of which Delphine Arnault, daughter of LVMH CEO Bernard Arnault, took over at the start of February, "

" and Celine, which exceeded 2 billion in sales in 2022, "

”.

Selective Retailing, which includes Sephora and DFS (duty free), saw its sales jump 30%, approaching 4 billion euros, thanks to Sephora's "exceptional performance", particularly

North America, Europe and in the Middle East.

The brand, already present online in the United Kingdom, opened its first store in London in early March.

DFS, duty free, is benefiting from the resumption of international travel and, in particular, from the gradual return of travelers to the flagship destinations of Hong Kong and Macao.

The Watches and Jewelry division grew by 11% to reach 2.6 billion euros in sales.

Perfumes and cosmetics, up 11%, reached 2.1 billion in sales.

LVMH announced in early March the appointment of Stéphane Rinderknech, a former L'Oréal executive, as CEO of its beauty division reorganized on several levels.

The Wines and Spirits business (Moët & Chandon, Veuve Cliquot, Cheval Blanc, Ruinart, etc.) posted sales of 1.7 billion euros, up 3%.

LVMH exceeded the threshold of 400 billion euros in market capitalization in January, a first for a European company.

Group CEO Bernard Arnault and his family have become the wealthiest in the world, according to the Forbes annual ranking for 2023 with an estimated fortune of $211 billion.