LVMH Moet Hennessy Louis Vuitton announced on Tuesday its revenue in the first quarter of the fiscal year 2024 observed an annual decline of 2% to land at €20.7 billion.
Meanwhile, its organic revenue increased by 3% compared to the same period in 2023. Most profit came from fashion and leather goods, which earned LVMH €10.5 billion. The highest annual rise of 5% was seen in selective retailing. Among markets, Japan registered a double-digit revenue growth,
"In an uncertain geopolitical and economic environment, LVMH remains both vigilant and confident at the start of the year. The Group will continue to pursue its strategy focused on the development of its brands, driven by a sustained policy of innovation and investment as well as by a constant quest for quality in its products, their desirability and their distribution," the company's statement read.
