LVMH Group: Chinese Consumers Contribute 40-45% Increase in Global Sales Compared to Two Years Ago

7月 28, 2023

French luxury goods giant LVMH (Moët Hennessy Louis Vuitton) released its financial data for the first half of 2023 on July 25, local time. The substantial rebound in the Chinese market offset the decline in the US market, resulting in a 15% year-on-year increase in sales revenue to €42.24 billion, surpassing analysts’ previous estimates of 16%. On an organic basis, the growth was even higher at 17% for the first half of the year, with all business segments except the wines and spirits division achieving double-digit organic revenue growth (the wines and spirits division faced p …