LVMH Moët Hennessy Louis Vuitton, the world’s leading high-quality products group, recorded a 29 per cent rise in revenuesto€18 billion in the first quarter of 2022. The group’s organic revenue growth was 23 per cent. 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 Wines & Spirits business group recorded organic revenue growth of 2 per cent 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.
The Fashion & Leather Goods business group recorded organic revenue growth of 30 per cent in the first quarter of 2022. In Perfumes & Cosmetics, organic revenue growth was 17 per cent 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’Artet 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 per cent 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.
In Selective Retailing, organic revenue growth was 24 per cent 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.
