LVMH Moët Hennessy Louis Vuitton SE — the world's largest luxury goods conglomerate, headquartered in Paris, France. Established in 1987 through the merger of Louis Vuitton and Moët Hennessy, LVMH encompasses over 75 prestigious brands across five key sectors: fashion and leather goods, wines and spirits, perfumes and cosmetics, watches and jewelry, and selective retailing .(Encyclopedia Britannica)
📊 Financial Overview (FY24)
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Revenue: €84.68 billion (down 2% from €86.15 billion in FY23)
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Operating Profit: €19.57 billion (14% decrease from €22.80 billion in FY23)
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Net Profit: €12.55 billion (17% decline from €15.17 billion in FY23)
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Operating Margin: 23.1% (Retail Insight Network)
🏭 Business Segments
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Fashion & Leather Goods: Generated €41.06 billion in FY24, a 3% decrease from the previous year.
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Wines & Spirits: Reported €5.86 billion in revenue, reflecting a normalization of demand since 2023.
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Perfumes & Cosmetics: Experienced growth, driven by brands like Dior and Guerlain.
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Watches & Jewelry: Saw increased sales, bolstered by acquisitions such as Tiffany & Co.
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Selective Retailing: DFS and Sephora contributed to steady performance.(Retail Insight Network)
🌍 Regional Performance
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Europe & U.S.: Showed revenue growth on a constant consolidation scope and currency basis.
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Japan: Experienced double-digit revenue expansion.
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Other Asian Markets: Demonstrated robust growth, particularly in Europe and Japan, fueled by increased spending from Chinese consumers .(Retail Insight Network)
🔄 Strategic Adjustments
In response to a global luxury slowdown, LVMH's wines and spirits division, Moët Hennessy, announced plans to reduce its workforce by approximately 1,200 positions (10% of its staff). This decision aims to align staffing levels with current demand and address a 35% rise in operational costs since 2019 .(Latest news & breaking headlines, Financial Times)
🧠 Leadership
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Chairman & CEO: Bernard Arnault
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Deputy CEO: Alexandre Arnault (formerly led Tiffany & Co. restructuring)(Encyclopedia Britannica, Latest news & breaking headlines)
🏛️ Ownership Structure
The Arnault family, through Christian Dior SE, holds a controlling stake of 64.33% of voting rights, while public shareholders own the remaining equity .(Wikipedia)
🛍️ Brand Portfolio Highlights
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Fashion & Leather Goods: Louis Vuitton, Christian Dior, Fendi, Celine, Loewe, Kenzo, Givenchy, Berluti
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Wines & Spirits: Moët & Chandon, Hennessy, Veuve Clicquot, Glenmorangie, Belvedere
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Perfumes & Cosmetics: Sephora, Guerlain, Benefit Cosmetics, Make Up For Ever
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Watches & Jewelry: Tiffany & Co., Bulgari, TAG Heuer, Hublot, Zenith
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Selective Retailing: DFS Group, Sephora(Encyclopedia Britannica, Reuters)