News 
Moët Hennessy Louis Vuitton (LVMH) recorded organic revenue growth of 14% in the first nine months of 2023 compared with the same period in 2022. All business groups reported sustained organic revenue growth over the period, with the exception of Wines & Spirits, faced with a high basis of comparison.
After taking into account the negative 4% exchange rate impact, revenue for the Group was up 10%. Europe, Japan and the rest of Asia achieved double-digit organic growth. In the third quarter, organic revenue growth came to 9%.
The Watches & Jewellery business group achieved organic revenue growth of 9% in the first nine months of 2023. Following the successful reopening of “The Landmark”, its iconic New York store, Tiffany continued its store network renovation program, notably in Tokyo, where two new exceptional stores were opened. Bulgari, which experienced strong growth, celebrated the 75th anniversary of its iconic cross-category Serpenti collection. To mark the occasion, a new exhibition was held in Dubai after the Shanghai, New York and Seoul shows that took place in the first half of the year. High jewellery, which saw the launch of the Mediterranea collection, turned in an outstanding performance. Chaumet held its A Golden Age: 1965-1985 retrospective exhibition in the historic salons of its 12 Vendôme location, while Fred unveiled Audacious Blue, the Maison’s first lab-grown blue diamonds, with both Maisons posting strong growth. In watchmaking, highlights of the quarter included the opening of TAG Heuer’s flagship store in New York and Hublot’s appointment as the Official Timekeeper for the FIFA Women’s World Cup in Australia.
The Wines & Spirits business recorded a decline (-7% organic) in sales over the first nine months of 2023, against a high basis of comparison over the same period in 2022. Fashion & Leather Goods reported 16% organic revenue growth, while Perfumes & Cosmetics benefited from a strong innovation drive and posted a 12% increase in revenue, while Selective Retailing achieved 26% organic sales growth, again for the first nine months of 2023.
In an uncertain economic and geopolitical environment, the Group is confident in the continuation of its growth 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 26, 2023