- French luxury fashion house LVMH-Moet Hennessy Louis Vuitton LVMHF LVMUY reported a first-quarter FY23 sales growth of 17% year-on-year to €21.04 billion. Organic revenue growth was 17%.
- The owner of Louis Vuitton and Christian Dior fashion houses saw a 30% jump in the sales of Selective Retailing and an 18% growth in the Fashion & Leather Goods segment.
- Also Read: French Fashion Giant LVMH Adopts €1.5B Share Buyback Program
- The company said that Europe and Japan, which enjoyed strong growth momentum, benefited from robust demand from local customers and international travelers.
- LVMH said it remains both vigilant and confident at the start of the year in an uncertain geopolitical and economic context.
- Price Action: LVMHF shares are trading higher by 4.30% at $959.60 on the last check Wednesday.
- Photo Via Company
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