Good start to the year for LVMH
Paris, April 12th, 2022
LVMH Moët Hennessy Louis Vuitton, the world’s
leading high-quality products group, recorded revenue of 18 billion
euros in the first quarter of 2022, up 29% compared to the same
period in 2021. Organic revenue growth was 23%. LVMH had a good
start to the year against a backdrop of continued disruption from
the health crisis and marked by the dramatic events in Ukraine. All
business groups achieved double-digit revenue growth, except for
Wines & Spirits, which continued to see supply constraints. The
United States and Europe also achieved double-digit revenue growth;
Asia continued to grow over the quarter despite the impact of a
tightening of health restrictions in China in March.The LVMH Group
is closely monitoring developments in Ukraine and the region. Its
first priority was to ensure the safety of its employees in Ukraine
and to provide them with all the necessary financial and
operational assistance.
Revenue by business group:
Euro millions |
Q1 2022 |
Q1 2021 |
% ChangeQ1 2022/Q1 2021
Reported
Organic* |
Wines & Spirits |
1 638 |
1 510 |
+ 8 % |
+ 2 % |
Fashion & Leather Goods |
9 123 |
6 738 |
+ 35 % |
+ 30 % |
Perfumes & Cosmetics |
1 905 |
1 550 |
+ 23 % |
+ 17 % |
Watches & Jewelry |
2 338 |
1 883 |
+ 24 % |
+ 19 % |
Selective Retailing |
3 040 |
2 337 |
+ 30 % |
+ 24 % |
Other activities and eliminations |
(41) |
(59) |
- |
- |
Total LVMH |
18 003 |
13 959 |
+ 29 % |
+ 23 % |
* with comparable structure and constant exchange rates. The
structural impact for the Group was almost zero and the currency
effect was +6%.
The Wines &
Spirits business group recorded organic revenue
growth of 2% in the first quarter of 2022 compared to the same
period of 2021. The Champagne business had an excellent start to
the year, with volumes rising sharply, particularly in Europe and
Japan, and a firm price increase policy. Maison Armand de Brignac,
which has been 50% owned by LVMH since May 2021, is included for
the first time in the first quarter accounts. Hennessy cognac saw
its volumes decrease compared to the first quarter of 2021 due to
supply and logistical constraints at the beginning of the year.
Glenmorangie whisky and Belvedere vodka recorded strong growth.
The Fashion & Leather Goods
business group recorded organic revenue growth of 30% in the first
quarter of 2022. Louis Vuitton had an excellent start to the year,
driven as always by its strong creativity. Continuing its
commitment to the development of high-quality craftsmanship, the
Maison inaugurated two new precious leather workshops in France.
Highlights of the quarter included the presentation of Louis
Dreamhouse, Virgil Abloh's final Autumn-Winter 2022 Men's
collection and the Women’s collection of Nicolas Ghesquière, shown
for the first time at the Musée d'Orsay in Paris. Christian Dior
enjoyed another remarkable performance. After two years of
renovation, the historic birthplace of the Maison at 30 Avenue
Montaigne in Paris reopened, in celebration of exceptional
savoir-faire, a passion for couture, refinement and culture, and
offering a new unique holistic experience of Dior’s world. Fendi
recorded solid growth, driven in particular by the success of Kim
Jones’ collections. Celine achieved very strong growth thanks to
the remarkable success of its ready-to-wear and leather goods lines
designed by Hedi Slimane. Loro Piana, Loewe with J.W. Anderson, and
Marc Jacobs all had a very good quarter.
In Perfumes & Cosmetics,
organic revenue growth was 17% in the first quarter of 2022
compared to the same period of 2021. The business group enjoyed
excellent momentum thanks to sustained growth in perfume and
makeup, particularly in the United States. Christian Dior achieved
remarkable growth and gained market share, benefiting from the
progress of its iconic fragrances Sauvage, Miss Dior and J'Adore,
and its makeup. Guerlain successfully rolled out its Aqua Allegoria
line and its new collection of fine perfumery l'Art et la Matière.
Its Abeille Royale skincare line also contributed to the
performance of the Maison. Parfums Givenchy unveiled its new eau de
toilette Fraîche Irresistible. Maison Francis Kurkdjian continued
to see rapid growth.
In the first quarter of 2022, the
Watches & Jewelry business group recorded
organic revenue growth of 19% compared to the same period of 2021.
In jewelry, Tiffany & Co. had an excellent start to the year,
still driven by strong growth in the United States. The new Knot
collection was particularly successful. At Bulgari, the Serpenti
line, high jewelry and watch collections, including the new Octo
Finissimo Ultra watch, were the main drivers of growth. Chaumet and
Fred had an excellent performance in the quarter. All of LVMH's
watchmaking Maisons continued to see strong momentum and unveiled
numerous new products at the Watches & Wonders Exhibition, with
watch innovations from TAG Heuer, Hublot and Zenith.
In Selective Retailing, organic
revenue growth was 24% in the first quarter of 2022 compared to the
same period of 2021. Sephora achieved excellent performance in the
quarter with a strong rebound in the activity in its own store
network, which had been partly closed at the beginning of 2021.
Momentum was particularly strong in North America, France and the
Middle East, driven notably by perfume. DFS’s revenue rose in the
quarter but at a lower level due to the persistent weakness of
international travel.
In the current geopolitical context and in light
of the ongoing impact of the pandemic, LVMH remains both vigilant
and confident at the beginning of this year. The Group will
continue to pursue its strategy focused on the development of its
brands, driven by strong innovation and investment as well as a
constant quest for quality in its products and their
distribution.
LVMH relies on the talent and motivation of its
teams, the diversity of its businesses and the geographical balance
of its revenues to further strengthen its global leadership
position in luxury goods in 2022.
The regulated information related to this press
release and presentation are available on www.lvmh.comDetail of the
2022 First Quarter Revenue webcast is available on:
https://www.lvmh.com/shareholders/agenda/2022-q1-revenue/
LVMH
LVMH Moët Hennessy Louis Vuitton is represented
in Wines and Spirits by a portfolio of brands that includes Moët
& Chandon, Dom Pérignon, Veuve Clicquot, Krug, Ruinart,
Mercier, Château d’Yquem, Domaine du Clos des Lambrays, Château
Cheval Blanc, Colgin Cellars, Hennessy, Glenmorangie, Ardbeg,
Belvedere, Woodinville, Volcán de Mi Tierra, Chandon, Cloudy Bay,
Terrazas de los Andes, Cheval des Andes, Cape Mentelle, Newton,
Bodega Numanthia, Ao Yun, Château d’Esclans and Château Galoupet.
Its Fashion and Leather Goods division includes Louis Vuitton,
Christian Dior, Celine, Loewe, Kenzo, Givenchy, Fendi, Emilio
Pucci, Marc Jacobs, Berluti, Loro Piana, RIMOWA, Patou. LVMH is
present in the Perfumes and Cosmetics sector with Parfums Christian
Dior, Guerlain, Parfums Givenchy, Kenzo Parfums, Perfumes Loewe,
Benefit Cosmetics, Make Up For Ever, Acqua di Parma, Fresh, Fenty
Beauty by Rihanna, Maison Francis Kurkdjian and Officine
Universelle Buly. LVMH's Watches and Jewelry division comprises
Bulgari, Tiffany & Co., TAG Heuer, Chaumet, Zenith, Fred and
Hublot. LVMH is also active in selective retailing as well as in
other activities through DFS, Sephora, Le Bon Marché, La
Samaritaine, Groupe Les Echos, Cova, Le Jardin d’Acclimatation,
Royal Van Lent, Belmond and Cheval Blanc hotels.
“This document may contain certain forward
looking statements which are based on estimations and forecasts. By
their nature, these forward looking statements are subject to
important risks and uncertainties and factors beyond our control or
ability to predict, in particular those described in LVMH’s
Universal Registration Document which is available on the website
(www.lvmh.com). These forward looking statements should not be
considered as a guarantee of future performance, the actual results
could differ materially from those expressed or implied by them.
The forward looking statements only reflect LVMH’s views as of the
date of this document, and LVMH does not undertake to revise or
update these forward looking statements. The forward looking
statements should be used with caution and circumspection and in no
event can LVMH and its Management be held responsible for any
investment or other decision based upon such statements. The
information in this document does not constitute an offer to sell
or an invitation to buy shares in LVMH or an invitation or
inducement to engage in any other investment activities.”
LVMH CONTACTS
Analysts and investors Chris Hollis / Rodolphe
Ozun LVMH+ 33 1 44 13 21 22 / + 33 1 44 13 27 21 |
Media Jean-Charles Tréhan LVMH + 33 1 44 13 26
20 |
MEDIA CONTACTS |
|
FranceCharlotte Mariné / +33 6 75 30 43 91Axelle
Gadala / +33 6 89 01 07 60Publicis Consultants+33 1 44 82 46
05 |
FranceMichel Calzaroni / + 33 6 07 34 20 14Olivier
Labesse / Hugues Schmitt / Thomas Roborel de Climens / + 33 6 79 11
49 71 |
Italy Michele Calcaterra / Matteo Steinbach SEC
and Partners + 39 02 6249991 |
UKHugh Morrison / Charlotte McMullen Montfort
Communications+ 44 7921 881 800 |
USNik Deogun / Blake SonnensheinBrunswick Group+ 1
212 333 3810 |
China Daniel Jeffreys Deluxewords +
44 772 212 6562 + 86 21 80 36 04 48 |
- LVMH 2022 First Quarter Revenue
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