LVMH sales soar 17% in first quarter of 2023

04:20

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BizTech

LVMH sales soar 17% in first quarter of 2023

Riots and protests over inequality and a rise in the retirement age have rocked France in recent weeks, but that hasn't slowed down France's premier luxury brand. LVHM, the maker of Louis Vuitton and Dior products that retail for tens of thousands of dollars, saw its revenue increase by 17% in the first quarter of 2023. A post-pandemic rebound in demand in Asia helped boost the figure, along with more sales in Japan and Europe. The US remained a weaker but stable part of LVHM's balance sheet. Overall, the company pulled in $23 billion in the year's first three months. The company's CEO Bernard Arnault recently overtook Elon Musk to become the world's richest man.

April 13, 2023