LVMH has reported 9-month 2024 perfume and cosmetic sales of 6,148 million euros, a gain of 2% reported/5% organic year-over-year.
The rate of growth has slowed throughout the year so far, with Q1 expanding at 7% (all figures organic growth), Q2 rising 4% and Q3 increasing 3%.
LVMH praised "solid momentum" in fragrances and overall success "driven by its powerful innovation strategy and highly selective distribution policy."
Highlights included Christian Dior's Sauvage, Rihanna's involvement with J’adore and the new Miss Dior Parfum, as well as Geurlain's L’Art & La Matière collection and the new Florabloom scent, which was added to the Aqua Allegoria line.
Givenchy continued to see growth, driven by its new L’Interdit Absolu fragrance.
Makeup and premium skin care also drove growth. Fenty Beauty was boosted by its hair care launch and expanded China retail presence.
Selective retail, which includes Sephora, reported 9-month 2024 sales of 12,559 million euros, a 1% (reported)/6% (organic) gain year-over-year.
Sephora was praised for its "remarkable performance" and market share gains in the United States, France, Italy, the Middle East and Latin America.
Looking ahead, the brand has declared:
In an uncertain economic and geopolitical environment, the group remains confident and will maintain a strategy focused on continuously enhancing the desirability of its brands, drawing on the authenticity and quality of its products, excellence in distribution and agile organization.
LVMH will draw on its powerful brands and the talent of its teams to reinforce its global leadership position in luxury goods once again in 2024.
