LVMH 9-Month Revenues Down 2%

(RTTNews) - LVMH Moet Hennessy Louis Vuitton, (LVMHF.PK, LVMUY.PK), a maker of luxury goods, reported revenue of 60.753 billion euros in the first nine months of 2024, down 2% compared to 62.205 billion euros in the same period last year.

On an organic basis, revenue growth was flat.

Wines & Spirits segment revenues slipped 11% over the first nine months of 2023. The Fashion & Leather Goods segment reported revenue decline of 3% in the first nine months of 2024, while Perfumes & Cosmetics business reported revenue growth of 2% for the period. Watches & Jewelry business group's revenue declined 5% in the first nine months of 2024.

"In an uncertain economic and geopolitical environment, the Group remains confident 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," the company said in a statement.