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The French luxury goods group Louis Vuitton Moët Hennessy (LVMH) achieved a turnover of 79.2 billion euros and a profit of 21.1 billion euros in 2022. Both figures mark new records for the company, which benefited from the recovery in international travel and grew strongly, especially in Europe, Japan and the USA.
Wines and spirits also performed strongly in emerging markets. Overall, this division's turnover rose by 19 per cent to 7.1 billion euros and profit by 16 per cent to 2.15 billion euros. The champagne division grew by six per cent. In addition to strong demand, LVMH also cites its value-added strategy as the reason for the good result: Through "dynamic price increases" it was possible to make up for the losses due to Covid in China. LVMH claims to have paid 5 billion euros in corporate taxes worldwide in 2022, half of it in France, where it also invested more than one billion euros.
(al / source: lvmh.com; photo: facebook/lvmh)