Luxury goods company Moët Hennessy Louis Vuitton (LVMH) has reported revenue of €62.20bn ($76.23bn) in the first nine months of fiscal year (FY) 2023.
This represents an organic growth of 14% compared to the same period in FY22.
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Regionally, the company’s business in Europe, Japan and the rest of Asia achieved double-digit organic growth during the period.
LVMH’s Fashion and Leather Goods business recorded revenue of €30.91bn in the first nine months of the fiscal, up 16% and 11% on an organic and reported basis, respectively.
During the period, its Watches and Jewellery business group generated €7.95bn in revenue, up 9% on an organic basis from €7.57bn in the corresponding period a year ago.
The company’s Perfumes and Cosmetics business registered revenue of €6.02bn in the first three-quarters of the fiscal, up 8% on a reported basis and 12% on an organic basis against the prior year period.
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By GlobalDataHowever, its Wines and Spirits division reported an organic revenue decline of 7% to €4.68bn compared to €5.22bn a year ago.
In the third quarter of FY23, LVMH’s revenue grew 9% compared to the same period a year ago.
In a statement, the company said: “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.”
