Good start to the year for LVMH

LVMH Moët Hennessy Louis Vuitton, the world’s leading high-quality products group, recorded revenue of 18 billion euros in the first quarter of 2022, up 29% compared to the same period in 2021.

Organic revenue growth was 23%. LVMH had a good start to the year against a backdrop of continued disruption from the health crisis and marked by the dramatic events in Ukraine. All business groups achieved double-digit revenue growth, except for Wines & Spirits, which continued to see supply constraints. The United States and Europe also achieved double-digit revenue growth; Asia continued to grow over the quarter despite the impact of a tightening of health restrictions in China in March.

The Watches & Jewellery business group recorded organic revenue growth of 19% compared to the same period of 2021. In jewellery, Tiffany & Co. had an excellent start to the year, still driven by strong growth in the United States. The new Knot collection was particularly successful. At Bvlgari, the Serpenti line, high jewelry and watch collections, including the new Octo Finissimo Ultra watch, were the main drivers of growth. Chaumet and Fred showed excellent performance in the quarter. All of LVMH’s watchmaking Maisons continued to see strong momentum and unveiled numerous new products at the Watches & Wonders Exhibition, with watch innovations from TAG Heuer, Hublot and Zenith.

The Wines & Spirits business group recorded organic revenue growth of 2% in the first quarter of 2022 compared to the same period of 2021. Fashion & Leather Goods achieved organic revenue growth of 30%; Perfumes & Cosmetics posted 17% organic revenue growth, while in Selective Retailing, organic revenue growth was 24%.

In the current geopolitical context and in light of the ongoing impact of the pandemic, LVMH remains both vigilant and confident at the beginning of this year. The Group will continue to pursue its strategy focused on the development of its brands, driven by strong innovation and investment as well as a constant quest for quality in its products and their distribution.

May 12, 2022