Europe, US and Japan, up sharply since the start of the year, benefitted from the solid demand of local customers and the recovery in international travel. Asia (including China) saw a lower level of growth over the first nine months of 2022, though growth in the latest quarter accelerated there due to the partial easing of health restrictions.
LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, witnessed organic revenue growth of 19 per cent in the third quarter, in line with the trends observed in the first half of the year. It recorded revenue of €56.5 billion in the first nine months of fiscal 2022, up by 28 per cent compared to the same period of fiscal 2021.
The Fashion & Leather Goods business group recorded revenue growth of 31 per cent in the first nine months of 2022 (24 per cent in organic). Louis Vuitton shined again, driven as ever by exceptional creativity and the quality of its products. The latest ready-to-wear fashion shows, designed for women by Nicolas Ghesquière, enjoyed a tremendous reception. Many new products were unveiled, in leather goods notably, as well as in watches. The Tambour Twenty collector’s watch, embodied by Bradley Cooper, ambassador of the Maison, was immediately out of stock.
Christian Dior continued to achieve remarkable growth in all its product lines. After three years of renovations, the historic birthplace of the Maison at 30 Avenue Montaigne in Paris, which reopened at the start of the year to offer a new vision of the Maison Dior, has been overwhelmingly successful. Celine saw very strong growth resulting from the success of Hedi Slimane’s creations, as did Loewe, driven by the strong creativity of J W Anderson. Loro Piana maintains good momentum. Fendi, where Kim Jones brings his talents to the Maison, celebrated the 25th anniversary of its iconic Baguette bag with an exceptional fashion show in New York, the brand said in a press release.
Against an uncertain geopolitical and economic backdrop, the group is confident in the continuation of current growth and will maintain a policy of cost control and selective investment. The group’s strategy will remain focused on continuously strengthening the desirability of its brands, by relying on the authenticity and quality of its products, the excellence of their distribution and the reactivity of its organisation.
Fibre2Fashion News Desk (RR)