Hennessy Tag

Innovation and continued control over distribution were cited by LVMH Moët Hennessy Louis Vuitton as the important thing drivers for its beauty division’s growth last yr. Like a lot of its competitors, lackluster sales in China continued to weigh on business; the burden of Asia (outside Japan) within the division’s sales shrank for the fourth consecutive yr, down from 45% in 2020 to only 33% last yr. The division’s profit margin remained roughly stable year-on-year at 8.6%, down from 10.3% in 2021. Megabrand Parfums Christian Dior’s sales performance was “remarkable,” the corporate said, and it reinforced its leading position in Europe, Japan and the Middle East while posting strong gains in Southeast Asia, the U.S. and South Korea. Sauvage was once more...