PARIS — LVMH Moët Hennessy Louis Vuitton said it was confident heading into 2025 after revenues were broadly flat in the fourth quarter, with its key fashion and leather goods division curtailing its declines.
The French luxury goods giant, which owns brands including Louis Vuitton, Dior, Sephora and Tiffany & Co., reported revenues of 23.9 billion euros in the three months to Dec. 31, in line with the same period the prior year. Organic revenues grew 1 percent, versus a 3 percent drop in the third quarter.
By comparison, Compagnie Finanicère Richemont earlier this month reported a surprise 10 percent revenue uptick during the same period, triggering a rally in luxury stocks.
“While remaining highly vigilant with regard to cost management and our single-minded focus on the desirability of our designs, we enter 2025 with confidence,” Bernard Arnault, chairman and chief executive officer of LVMH, said in a statement released after the market close.
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“In 2024, amid an uncertain environment, LVMH showed strong resilience. This capacity to weather the storm in highly turbulent times — already illustrated on many occasions throughout our group’s history — is yet another testament to the strength and relevance of our strategy,” he added.
The fashion and leather goods unit posted a 1 percent decline in revenues on an organic basis in the fourth quarter, beating consensus estimates for a 3 percent drop.
Wines and spirits recorded an 8 percent decline, but other sectors saw improvements, with watches and jewelry up 3 percent and selective retailing rising 7 percent during the key holiday period. Sales of perfumes and cosmetics were up 2 percent, but this was down from a 3 percent rise in the prior quarter.
In 2024 as a whole, LVMH posted revenues of 84.7 billion euros, down 1.7 percent year-on-year amid a challenging economic and geopolitical environment, and a high basis of comparison after several years of exceptional growth in the wake of the coronavirus pandemic.
Net profit fell 17 percent to 12.5 billion euros, while profit from recurring operations was down 14 percent to 19.6 billion euros. The group invested 5.5 billion euros, mainly to expand its store network and build new workshops.
