LVMH sales jump 17% to 21.04 billion euros ($23.10 billion) in the first quarter of 2023.
PARIS, France – LVMH, the world’s largest luxury company, reported a 17% rise in first-quarter sales, more than double analysts’ expectations, asSales at the French company, which owns the Louis Vuitton and Dior fashion houses, as well as Hennessy cognac and US jewelerThe 17% growth on an organic basis, which strips out the effect of currency fluctuations and acquisitions, compared with analysts’ expectations for 8% growth, according to a Visible Alpha consensus.
LVMH said first-quarter sales grew by 14% in Asia, excluding Japan, compared with an 8% decline in the fourth quarter of last year, and the group said it expected China to drive growth in 2023.
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