Is the luxury industry booming? Important numbers have arrived

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By RockedBuzz 2 Min Read

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LVMH, the world’s main luxury model group, owns manufacturers resembling Louis Vuitton, Moët & Chandon and Hennessy, in addition to manufacturers resembling Givenchy, Bulgari and Sephora. On Thursday night, the group reported gross sales of 86.1 billion euros for 2023, which exceeded consensus forecasts, and represents an natural progress of 13 p.c in comparison with the earlier yr. In the fourth quarter, natural income elevated by 10 p.c.

The particularly good consequence was pushed by the 14 p.c annual progress of the style and leather-based items sector, which is the predominant supply of revenue, and the 11 p.c progress of the “perfumes and cosmetics” space. In the space of ​​wines and spirits, in the meantime, the group recorded a 4 p.c decline.

In April 2023, LVMH grew to become the first European firm with a market worth exceeding 500 billion {dollars}, however the sharp drop in the alternate charge in the final six months After that, the Danish pharmaceutical large Novo Nordisk “dethroned” the luxury group from the throne of Euroa, already when it comes to market capitalization.

Investors are reacting to the new figures with bursting enthusiasm,

LVMH shares are at present up 9.6 p.c.

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Cover picture supply: Shutterstock

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