After starting the year at +3% then a second quarter at +1%, the group’s results continue to contract in a luxury economy that has been slow for several months.
LVMH: sales of more than 14 billion euros
Over the period from July to September 2024, the world number one in luxury recorded sales of just over 19 billion euros, a decline of -4.4% in published data and -3% in comparable data. compared to the same period last year.
In detail of the group’s activities, this decline is palpable in the division Wines and Spirits (-7% on a comparable basis) as well as on Watches and Jewelry (-4%). For the first time since the start of the year, sales are also negative (-5%) in the flagship segment of the Fashion and Leather Goods which accounted for almost half of LVMH’s results last year.
Despite a deceleration, the Selective distributione is growing (+2%), as is the division Perfumes and Cosmeticsup +3% in a buoyant luxury and ultra-luxury beauty market.
A quarter still impacted by the Asia region
In terms of geographic performance, the group’s sales once again suffered from the decline in luxury consumption in China in a macro-economic context that was more polarized than ever. In Asia excluding Japan, LVMH saw its results fall by -16% in the third quarter, a decline which follows a first half of -10%.
After a second quarter up +57%, sales in Japan slowed down somewhat (+20%), marked in part by the rise in the yen. The results at UNITED STATES were stable over this period, where the zone Europe grew by +2%.
At the end of the first nine months of its 2024 financial year, LVMH, which recently invested in the field of Formula 1 – has concentrated more than 60.75 billion euros in sales.
