US Reporter

LVMH Reports Strong Sales in Asia as Chinese Economy Reopens

Shares of LVMH, the world’s largest luxury conglomerate, hit record highs after reporting strong sales in the first quarter, aided by the resumption of the Chinese economy.  

On Thursday, the stock of the company increased by 4.6 percent to €875 ($965) per share, making its owner, Bernard Arnault, the richest person in the world. The aggregate’s brands, which incorporate Dior and Tiffany and Co., announced deals of €21 billion ($17 billion) for the initial three months of 2023, up 17% from a similar period in 2022.

Sales in Asia, excluding Japan, increased 14% YoY, according to LVMH, demonstrating a considerable resurgence as a result of the region’s removal of COVID-19 limitations. According to the company’s chief financial officer, Jean-Jacques Guinoy, sales of leather products and jewelry were doing well, although the company’s cosmetics division was still under some pressure in mainland China. 

Due to strong demand from local consumers and tourists from around the world, sales in Europe and Japan increased by 24% and 34%, respectively.

Despite concerns that some economies might enter recession and high levels of global inflation, the luxury goods market has remained resilient. LVMH’s portions have expanded by 29% starting from the start of the year, driving the organization’s worth to $460 billion.

But demonstrators taking part in a statewide strike against French President Emmanuel Macron’s pension changes targeted LVMH. Union leader Fabien Villedieu said that if Macron needs money to finance the pension system, he should “come here to find it” as protesters stormed the company’s headquarters in Paris.

As China’s economy continues to recover from the effects of the pandemic, LVMH is optimistic about its performance for the remainder of the year. The luxury goods market’s resilience and adaptability to shifting global conditions are demonstrated by the company’s success.


lvmh (Moët Hennessy Louis Vuitton) is the world’s largest luxury goods conglomerate, with a portfolio of over 70 high-end brands, including Louis Vuitton, Christian Dior, Bulgari, Fendi, and TAG Heuer, among others. The French multinational corporation has a market capitalization of over €250 billion, making it Europe’s most valuable company.

lvmh was founded in 1987 by Bernard Arnault, who is the company’s chairman and CEO. Arnault’s business acumen and vision have transformed the company into a global luxury powerhouse, generating billions of euros in revenue annually. lvmh’s business model is focused on acquiring luxury brands and nurturing them with resources and expertise to expand their reach and potential.

The company has a diversified portfolio, with a presence in various industries, including fashion and leather items, perfumes and cosmetics, watches and jewelry, and wines and spirits. lvmh’s most significant revenue stream comes from its fashion and leather goods division, which generates approximately 47% of the company’s total revenue. 

Louis Vuitton is the flagship brand of the division, generating billions of euros in revenue annually.

The company’s second-largest revenue stream comes from its perfumes and cosmetics division, which includes brands such as Christian Dior, Guerlain, and Benefit Cosmetics, among others. 

lvmh’s watch and jewelry division, which includes Bulgari and TAG Heuer, accounts for 9% of the company’s total revenue, while its wines and spirits division, which includes Moët & Chandon and Hennessy, generates 8% of the company’s total revenue.

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Ever-Changing Conditions 

lvmh’s success can be attributed to its ability to keep up with changing market conditions and consumer preferences. The company has expanded its reach in emerging markets, like China and India, where there is a growing demand for luxury goods. 

lvmh’s digital transformation strategy has also been critical in its success, with the company investing heavily in e-commerce and social media platforms to connect with customers and enhance their shopping experience.

The COVID-19 pandemic has birthed unprecedented challenges to the luxury goods industry, with global lockdowns and travel restrictions disrupting supply chains and demand. However, lvmh’s diversification strategy and digital transformation have enabled the company to weather the storm. 

The company reported strong results in 2021, with a 44% increase in revenue compared to the previous year.

lvmh is a global luxury powerhouse with a diversified portfolio of high-end brands, generating billions of euros in revenue annually. The company’s success can be credited to its visionary leadership, diversification strategy, and digital transformation. As the luxury goods industry continues to evolve, lvmh is poised to maintain its position as a global leader in the sector.

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Luxury Industry

Tiffany & Co. and Dior are two of the most iconic names in the luxury fashion and jewelry industry. Both brands have a rich history, a strong global presence, and a reputation for producing high-quality and luxurious products. In this article, we will take a closer look at these two brands and explore what makes them unique.

Tiffany & Co.

Tiffany & Co. was founded by Charles Lewis Tiffany and John B. Young in 1837 in New York City. Since its inception, the brand has been synonymous with elegance, luxury, and timeless design. Tiffany & Co. is best known for its exquisite jewelry, particularly its engagement rings, which have become a cultural phenomenon.

One of the most recognizable features of Tiffany & Co. is its iconic blue box. The company has trademarked the shade of blue used on its boxes and shopping bags, and it is now commonly referred to as “Tiffany blue.” The color has become so closely associated with the brand that it is now instantly recognizable around the world.


Dior, founded by Christian Dior in 1946, is a French luxury fashion brand that is known for its sophisticated and glamorous designs. The brand is synonymous with haute couture and has been a major player in the fashion industry for over 70 years.

Dior is best known for its women’s wear, which is characterized by its feminine silhouettes, intricate embroidery, and luxurious fabrics. The brand has also become known for its accessories, including its handbags and shoes, which are coveted by fashion enthusiasts around the world.

Photo: Rhapsody

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