News 
LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury goods group, recorded revenue of €84.7 billion in 2024. Growth continued (+1% on an organic basis) despite a challenging economic and geopolitical environment, as well as a high basis of comparison following several years of exceptional post-Covid growth.
Europe and the United States posted growth on a constant consolidation scope and currency basis; Japan saw double-digit revenue growth; the rest of Asia reflected the strong growth in spending by Chinese customers in Europe and Japan.
In the fourth quarter, organic revenue growth amounted to 1%, accelerating with respect to the third quarter.
Profit from recurring operations for 2024 came to €19.6 billion, equating to an operating margin of 23.1%, significantly exceeding pre-Covid levels. Exchange rate fluctuations had a substantial negative impact during the year, particularly on Fashion & Leather Goods and Wines & Spirits. The Group share of net profit amounted to €12.6 billion.
In 2024, the life the Group featured a number of highlights, including the partnership of its houses with the Paris Olympic and Paralympic Games, which helped spread the fame of French expertise around the world. Consistently committed to creativity, culture and heritage, LVMH also celebrated the reopening at the end of the year of Notre-Dame de Paris, of which the group was one of the patrons. It also celebrated the tenth anniversary of the success of the Louis Vuitton Foundation, which has welcomed 11 million visitors since its creation, as well as pursuing its objective of making its cultural events accessible to as many people as possible.
Revenue for Watches & Jewellery decreased by 2% on an organic basis in 2024. Profit from recurring operations was down 28%, partly due to ongoing investments in store renovations and communications, as well as exchange rate fluctuations. Tiffany & Co. showcased its iconic lines through its global “With Love, Since 1837” campaign. The new Tiffany Titan by Pharrell Williams collection was exceptionally well received, while a ring version of the Bone cuff was unveiled to mark the 50th anniversary of designs by Elsa Peretti. The new store concept continued to be rolled out with great success; The Landmark – the Maison’s flagship store on New York’s Fifth Avenue and the first to be renovated – achieved record-breaking revenue in 2024 and became the world’s premier luxury store. Tiffany has seen revenue from high jewellery quadruple since the Maison’s acquisition, and operating profit double. Bulgari celebrated its 140th anniversary with the new “Eternally Reborn” campaign and the launch of the Aeterna high jewellery collection, which achieved record-breaking revenue. The Maison also unveiled the new Tubogas jewellery collection, a contemporary take on its iconic 1950s line. Chaumet enjoyed high visibility thanks to its design of the medals for the Paris Olympic and Paralympic Games. A 10-year global partnership between LVMH and Formula 1 was announced in 2025, TAG Heuer is back in his role as Official Timekeeper of Formula 1 for all its circuits worldwide.
Revenue for Wines & Spirits was down 8% (organic). Profit from recurring operations dropped by 36%, notably due to exchange rate fluctuations. The Fashion & Leather Goods business group, which was broadly stable in terms of organic growth in 2024, showed solid resilience. Profit from recurring operations was down 10%, mainly affected by exchange rate fluctuations. The Perfumes & Cosmetics business group achieved organic revenue growth of 4% in 2024 thanks to the ongoing success of its flagship lines, powerful innovative momentum and a selective distribution policy. The Selective Retailing business group posted organic revenue growth of 6% in 2024. Profit from recurring operations remained stable.
Despite a geopolitical and macroeconomic environment that remains uncertain, the Group remains confident and will pursue its brand development-focused strategy, underpinned by continued innovation and investment as well as an extremely exacting quest for desirability and quality in its products and their highly selective distribution.
Driven by the agility of its teams, their entrepreneurial spirit and its well-diversified presence across the geographic areas in which its customers are located, LVMH once again sets an objective of reinforcing its global leadership position in luxury goods in 2025.
February 13, 2025