Rise17 Tag

LVMH Moët Hennessy Louis Vuitton trumpeted an “excellent start” to 2023, reporting revenues in the primary quarter jumped 17 percent due to robust demand for leather goods, and sharp increases at Sephora and DFS. Revenues on the world’s largest luxury conglomerate totaled 21.04 billion euros for the three months ended March 31, despite “a geopolitical and economic environment which stays uncertain.” The numbers mark an acceleration from the fourth quarter, when sales gained 15 percent, but got here in a shade down from the 19 percent logged within the third quarter of 2022. All business divisions except wines and spirits recorded double-digit gains in the primary quarter, with LVMH citing “strong growth momentum” in Europe and Japan due to each local customers and...