News 
LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury goods group, recorded revenue of €79.2 billion in 2022 and profit from recurring operations of €21.1 billion, both up 23%. Operating margin remained at the same level as 2021. Group share of net profit was €14.1 billion, up 17% compared to 2021. Operating free cash flow surpassed €10 billion.
Europe, the United States and Japan rose sharply, benefiting from strong demand from local customers and the recovery of international travel. Asia was stable over the year due to developments in the health situation in China.
The Watches & Jewelry business group recorded revenue growth of 18% in 2022 (12% on an organic basis). Profit from recurring operations was up 20%. Tiffany & Co. had a record year, driven by its increasing desirability. While its High Jewelry revenue doubled, the new Lock bracelet collection, rolled out in North America, enjoyed great success alongside other iconic lines. Bvlgari confirmed its strong momentum, particularly in Europe, Japan and the United States. The iconic Serpenti line and the High Jewelry and High Watchmaking collections were the main growth drivers. The Octo Finissimo Ultra watch broke a new record of thinness. In the watchmaking sector, TAG Heuer unveiled, among other innovations, the Carrera Plasma, an avant-garde fusion of watchmaking and lab grown diamonds. As official timekeeper, Hublot enjoyed strong visibility during the 2022 Football World Cup. Zenith continued to expand its in-store and online distribution.
The Wines & Spirits business group recorded revenue growth of 19% in 2022 (11% on an organic basis). Profit from recurring operations was up 16%. Champagne volumes were up 6%, driven by sustained demand leading to growing pressure on supplies. Momentum was particularly strong in Europe, Japan and in emerging markets, particularly in “high energy” channels and gastronomy.
The Fashion & Leather Goods business group recorded revenue growth of 25% in 2022 (20% on an organic basis). Profit from recurring operations was up 22%. Louis Vuitton had an excellent year, again driven by its exceptional creativity, the quality of its products and its strong ties with art and culture.
The Perfumes & Cosmetics business group recorded revenue growth of 17% in 2022 (10% on an organic basis). Profit from recurring operations was slightly down as a result of a very selective policy of distribution to assert itself in the prestige universe.
Selective Retailing revenue was up 26% in 2022 (17% on an organic basis). Profit from recurring operations was up 48%. With a strong rebound in activity in its stores, Sephora enjoyed a record performance in both revenue and earnings. Momentum was particularly strong in North America, Europe, the Middle East and in most Southeast Asian countries.
In 2022, LVMH recruited more than 15,000 people in France, which makes the Group the leading private recruiter in the country. It also recruited 39,000 young people worldwide. Last year, LVMH invested nearly 215 million euros in training of its employees.
With the month of January having started well and despite an uncertain geopolitical and economic environment, LVMH is confident in its ability to continue the growth observed in 2022. The Group will pursue its brand development-focused strategy, underpinned by continued innovation and investment as well as a constant quest for desirability and quality in its products and their distribution.
At the General Meeting of 20 April 2023, LVMH will propose a dividend of 12 euros per share.
February 09, 2023