LVMH Moët Hennessy Louis Vuitton SE, the world’s largest luxury goods company, reported solid full-year sales for 2024 amid a challenging economic and geopolitical environment.
The French conglomerate, which owns iconic brands such as Louis Vuitton, Moët & Chandon, and Hennessy, posted revenues of €84.68 billion (A$141.3 billion), while earnings per share was reported at €25.12.
The company recorded organic growth of 1% year-over-year. Fourth-quarter sales also exceeded expectations, driven by strong demand in Europe, the U.S., and Japan, although weakness persisted in the broader Asia region.
Bernard Arnault, LVMH chairman and Chief Executive Officer noted, “The creativity and very high quality of our products, our steadfast commitment to excellence, the agility of our teams and the good geographic balance of our locations underpin the success of LVMH and its Maisons, backed by the dedication of all our people.”
The group's selective retailing division, which includes Sephora, and its perfume and cosmetics segment delivered particularly strong performances. However, its key fashion and leather goods, as well as wine and spirits divisions, faced challenges.
LVMH’s results come as the luxury industry grapples with headwinds, including sluggish sales in China and broader macroeconomic pressures. The company is widely regarded as a bellwether for the sector, given its diverse portfolio spanning fashion, leather goods, jewellery, cosmetics, and wines.
Looking ahead, Arnault noted that despite ongoing geopolitical and economic uncertainties, the group’s outlook for 2025 is “starting well”.
At the time of writing, LVMH (EPA: MC) stock was trading at €750.6, down 0.6% from Monday's close of €754.8. The stock reached a day low of €746.3 and a day high of €762.7. LVMH's market cap stands at €363.08 billion (A$605.69 billion).
LVMH shares have risen 18.1% year-to-date, recovering from a 13.4% decline in 2024.
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