LVMH plans a new factory in Italy producing Louis Vuitton bags and other leather accessories. The workshop will be the largest in Italy entirely dedicated to making these products for Louis Vuitton.

LVMH is the world’s largest luxury goods group. For the first nine months of 2022, revenues of LVMH were up 28 per cent compared to the same period of 2021.

Europe, the United States and Japan 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. The wines and spirits business recorded a revenue growth of 23 per cent. Growth was particularly strong in Europe, the United States and Japan. The fashion and leather goods business recorded revenue growth of 31 per cent. Many new products were unveiled, in leather goods as well as in watches. With a revenue growth of 19 per cent, the perfumes and cosmetics business maintained its highly selective distribution strategy. The watches andjewelry business group recorded revenue growth of 23 per cent. In selective retailing, revenue growth was 30 per cent in the first nine months of 2022.