News 
The world’s leading high-quality products group, LVMH Moët Hennessy Louis Vuitton (LVMH), recorded revenue of €60.8 billion in the first nine months of 2024, stable on a constant consolidation scope and currency basis despite the current context and a high basis of comparison, following several years of exceptional post-Covid growth.
Europe and the United States posted slight growth on a constant consolidation scope and currency basis; Japan continued to achieve double-digit revenue growth; the rest of Asia reflected in particular the strong growth in spending by Chinese customers in Europe and Japan. In the third quarter, the slight decline in revenue mainly arose from lower growth seen in Japan, essentially due to the stronger yen.
The Watches & Jewelry business group saw a slight decline on an organic basis in the first nine months of 2024. Tiffany & Co. continued to showcase its iconic lines through its global “With Love, Since 1837” campaign. The new Tiffany Titan by Pharrell Williams collection was exceptionally well received, while the Maison celebrated the 50th anniversary of the first pieces designed by Elsa Peretti. It continued to successfully roll out its new store concept in its main markets. Bulgari celebrated its 140th anniversary with Zendaya, Anne Hathaway and Yifei, who starred in the “Eternally Reborn” brand campaign. This celebration included the launch of a new jewellery collection, Bulgari Tubogas, inspired by the 1940s icon, reinterpreted in a bold, timeless yellow gold edition. Chaumet enjoyed high visibility during the summer with the awarding of the medals for the Paris 2024 Olympic and Paralympic Games, created by its design studio.
The announcement of LVMH’s 10-year global partnership with Formula 1 was a major highlight, in which several of iconic Maisons – in particular Louis Vuitton, Moët Hennessy and TAG Heuer – will be involved starting in 2025.
The Wines & Spirits business group saw a revenue decline (-8% organic) in the first nine months of 2024. The Fashion & Leather Goods business group, which was broadly stable on an organic basis over the first nine months of 2024, showed good resilience and gained market share, while the Perfumes & Cosmetics business group achieved organic revenue growth of 5% in the first nine months of 2024, driven by its powerful innovation strategy and highly selective distribution policy. In Selective Retailing, organic revenue growth was 6% in the first nine months of 2024.
In an uncertain economic and geopolitical environment, the Group remains confident and will maintain a strategy focused on continuously enhancing the desirability of its brands, drawing on the authenticity and quality of its products, excellence in distribution and agile organisation.
October 24, 2024