All business groups reported sustained organic revenue growth over the period, with the exception of Wines & Spirits, faced with a high basis of comparison. After considering the negative 4% exchange rate impact, revenue for the Group was up 10%. Europe, Japan and the rest of Asia achieved double-digit organic growth. In the third quarter, organic revenue growth came to 9%.
Perfume & Cosmetics
The Perfumes & Cosmetics business group achieved organic revenue growth of 12% in the first nine months of 2023, driven by its powerful innovative momentum, and maintained its highly selective distribution strategy. Christian Dior achieved a remarkable performance, extending its lead in its key markets.
Fragrances saw major growth, carried by the success of women’s scents Miss Dior and J’adore, which was enriched with Francis Kurkdjian’s latest creation, L’Or de J’adore, and the continued worldwide success of Sauvage. Dior Addict in makeup and Prestige in skincare also contributed to the Maison’s rapid growth.
Guerlain continued to grow, driven by its popular Aqua Allegoria scents and premium fragrance collection l’Art et la Matière, as well as the excellent response to its Terracotta Le Teint makeup. Parfums Givenchy was buoyed by its fragrances’ ongoing success. Benefit’s growth was driven by the successful launch of its new Fan Fest mascara and the popularity of Pore Care.
Revenues by business group:
In an uncertain economic and geopolitical environment, the Group says it 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 organization.”
LVMH plans to draw on its “powerful brands and the talent of its teams” to further strengthen its global leadership in the luxury goods market in 2023.