PARIS — LVMH Moët Hennessy Louis said it was cautiously confident heading into 2023 after revenues rose 15 percent within the fourth quarter, fueled by its key fashion and leather goods division and selective retailing.

The French luxury goods giant, which owns brands including Louis Vuitton, Dior, Sephora and Tiffany & Co., reported revenues of twenty-two.7 billion euros within the three months to Dec. 31, in keeping with consensus forecasts. This represented an increase of 9 percent at constant exchange rates, down from the 19 percent recorded within the third quarter.

“With the month of January having began well and despite an uncertain geopolitical and economic environment, LVMH is confident in its ability to proceed the expansion observed in 2022,” the group said in an announcement released after the stock market’s close.

“Our performance in 2022 illustrates the exceptional appeal of our maisons and their ability to create desire during a yr affected by economic and geopolitical challenges,” said Bernard Arnault, chairman and chief executive officer of LVMH. “We approach 2023 with confidence but remain vigilant as a consequence of current uncertainties.”

The style and leather goods unit posted a ten percent rise in revenues on an organic basis, beating consensus estimates for a 9 percent increase, in line with analysts at Bernstein and RBC Capital Markets. In 2022 as a complete, revenue at Louis Vuitton exceeded 20 billion euros for the primary time, LVMH said.

But watches and jewellery fell wanting market expectations with a 3 percent organic sales rise throughout the key holiday period, despite a record yr for Tiffany. By comparison, Compagnie Financière Richemont reported an 8 percent rise in organic revenues at its jewelry maisons throughout the same period.

LVMH’s perfumes and cosmetics unit posted a 5 percent increase in sales, down from a ten percent rise within the previous quarter, while wines and spirits saw revenues rise 4 percent, versus 14 percent within the third quarter. Turnover within the selective retail division was up 12 percent, and wines and spirits increased 4 percent.

In 2022 as a complete, LVMH posted revenues of 79.2 billion euros, up 23 percent year-on-year, boosted by strong business in Europe, Japan and the U.S., while China remained impacted by lockdowns. Net profit rose 17 percent to 14.1 billion euros, while benefit from recurring operations was up 23 percent to 21.1 billion euros. The operating margin was stable.

The group invested nearly 5 billion euros in expanding its store network, constructing latest workshops and hiring staff, recruiting 39,000 people worldwide.  

Kering is as a consequence of unveil its fourth quarter and full-year results on Feb. 15, and Hermès on Feb. 17.