LVMH Moët Hennessy Louis Vuitton, the global leader in luxury goods, has reported revenue of EUR 84.7 billion in 2024.
Despite a complex economic and geopolitical environment, the group maintained a steady growth trajectory, recording a 1% organic increase compared to 2023. This resilience comes after years of exceptional post-Covid expansion, demonstrating the strength of LVMH’s strategy and global market presence.
Steady Performance Across Markets
Europe and the United States achieved positive growth on a constant consolidation scope and currency basis, while Japan outperformed with double-digit revenue growth. The rest of Asia saw strong spending by Chinese consumers in key luxury hubs such as Europe and Japan, reinforcing LVMH’s geographic balance.
Organic revenue growth in Q4 2024 reached 1%, showing an improvement over Q3, highlighting the group's ability to adapt to shifting market conditions.
Financial Highlights
- Profit from recurring operations: EUR 19.6 billion (operating margin of 23.1%).
- Exchange rate fluctuations had a negative impact, particularly on Fashion & Leather Goods and Wines & Spirits.
- Net profit (Group share): EUR 12.6 billion.
- Free cash flow: EUR 10.5 billion (+29% YoY).
LVMH Chairman and CEO Bernard Arnault commented: “Amid an uncertain environment, LVMH demonstrated strong resilience. Our commitment to creativity, product excellence, and geographic diversity ensures the continued success of our Maisons. The agility of our teams and our strategic investments will allow us to enter 2025 with confidence.”
Key Business Segment Performance
Fashion & Leather Goods: LVMH’s flagship division sustained its strong appeal, maintaining exceptional operating margins. Iconic brands such as Louis Vuitton and Dior continued to drive revenue through high desirability and innovation.
Wines & Spirits: Revenue declined by 8% organically, with profit from recurring operations down 36%, largely due to unfavorable exchange rates and market normalization post-Covid. Champagne demand softened, but LVMH retained a 22% market share in the Champagne appellation. The group expanded its Provence rosé wine portfolio and launched SirDavis, a new American whisky in partnership with Beyoncé Knowles-Carter.
Fragrances & Cosmetics: Dior’s Sauvage remained the world’s best-selling fragrance, driving strong performance for the segment. Investments in new products and brand visibility fueled continued demand.
Watches & Jewelry: The segment saw strong innovation and ongoing investment in retail expansion. Bulgari, TAG Heuer, and Chaumet strengthened their global presence.
Selective Retailing: Sephora continued its rapid expansion, reinforcing its status as the world leader in beauty retail, benefiting from growing demand across regions.
Sustainability and Social Commitment
Under its LIFE 360 program, LVMH advanced its sustainability goals:
- 31% of materials used in production and packaging sourced from recycled materials.
- Absolute energy-related GHG emissions reduced by 55% (Scopes 1 & 2), surpassing the 2026 target.
- Water withdrawal reduced by 10% year-over-year.
- Biodiversity protection efforts restored 3.8 million hectares, progressing towards the 2030 goal of 5 million hectares.
Economic and Social Contributions
LVMH remains a major economic force in France and globally:
- 215,000+ employees worldwide (40,000 in France).
- Largest private-sector recruiter in France.
- EUR 6 billion in corporate tax paid worldwide (half in France).
- Over 3,300 apprentices trained through LVMH’s IME program.
- Support for over 910 nonprofits, impacting 1.9 million people.
- EUR 5.5 billion in operating investments, including EUR 1.7 billion in France.
Outlook for 2025
Despite ongoing macroeconomic and geopolitical uncertainties, LVMH remains confident in its ability to sustain growth. The group will continue investing in brand innovation, maintaining product desirability, and expanding its selective distribution strategy. With a strong entrepreneurial spirit and a diversified market presence, LVMH is well-positioned to reinforce its leadership in the global luxury market in 2025.