News: LVMH Group releases Q3 2024 financial report

LVMH Group released its Q3 financial report for 2024, revenue fell 3% year-on-year (the same below) to 19.08 billion euros compared with the Q3 of 2023. This is also the first time that LVMH has seen a quarterly sales decline since the COVID-19.

By region, the group's revenue in Europe and North America increased slightly in the first three quarters of 2024, and its revenue in Japan soared by 36%, while Asia (excluding Japan) fell by 12%.

However, Sephora's Selected Retail and Perfume and Cosmetics departments have always maintained growth and are the two most eye-catching departments of the group:

Among them, the Selected Retail department's organic revenue in the Q3 of 2024 increased by 6% year-on-year. Sephora performed well in developed markets such as the United States, France, and Italy, as well as emerging markets such as the Middle East and Latin America. DFS's revenue is still lower than the 2019 level. Although it performed well in Japan and the United States, it failed to offset the weak performance in Hong Kong, China, Macau, China and Europe.

The organic revenue of the perfume and cosmetics department increased by 5% year-on-year in Q3 of 2024. The perfume business of major brands is the key to growth. Christian Dior's Sauvage and Miss Dior Parfum, Guerlain's L'Art & La Matière series and Aqua Allegoria Florabloom, and Givenchy's L'Interdit Absolu are all outstanding perfume products mentioned in the financial report.