14 April 2023
Luxury group LVMH has reported revenues for the first quarter of 2023 of just over €21 billion, an increase of 17% compared to the same period last year, writes Leatherbiz.
Its leathergoods division contributed nearly €10.75 billion, more than half the total. This figure shows an increase of 18% year on year.
Louis Vuitton had an excellent start to the year, the group said, “still driven by exceptional creativity and the quality of its products”. It added that its flagship brand had “continued to surprise with its highly creative new collaboration with Japanese artist Yayoi Kusama, an ode to art and craftsmanship” (see image).
Christian Dior continued to perform remarkably well across all its products, LVMH said. Its new Lady 95.22 bag revisits the brand’s heritage with a modern twist, it added.
Céline continued to enjoy strong growth thanks to Hedi Slimane’s creations and vision, Loewe unveiled a new collaboration with Studio Ghibli, and Fendi opened new stores in Tokyo and Seoul.