LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury goods group, recorded revenue of €84.7 billion in 2024. Growth continued (+1% on an organic basis) despite a challenging economic and geopolitical environment, as well as a high basis of comparison following several years of exceptional post-Covid growth. Europe and the United States posted growth on a constant consolidation scope and currency basis; Japan saw double-digit revenue growth; the rest of Asia reflected the strong growth in spending by Chinese customers in Europe and Japan.

In the fourth quarter, organic revenue growth came to 1%, accelerating with respect to the third quarter.

Profit from recurring operations for 2024 came to €19.6 billion, equating to an operating margin of 23.1%, significantly exceeding pre-Covid levels. Exchange rate fluctuations had a substantial negative impact during the year, particularly on Fashion & Leather Goods and Wines & Spirits. The Group share of net profit amounted to €12.6 billion. Free cash flow came to €10.5 billion, up 29%.

Bernard Arnault, Chairman and CEO of LVMH, commented: “In 2024, amid an uncertain environment, LVMH showed strong resilience. This capacity to weather the storm in highly turbulent times – already illustrated on many occasions throughout our Group’s history – is yet another testament to the strength and relevance of our strategy. The creativity and very high quality of our products, our steadfast commitment to excellence, the agility of our teams and the good geographic balance of our locations underpin the success of LVMH and its Maisons, backed by the dedication of all our people. This dedication was also behind one of the Group’s finest collective achievements of 2024: LVMH and its Maisons’ partnership with the Paris 2024 Olympic and Paralympic Games, which helped make the world’s foremost sports competition a resounding success and showcased French expertise and craftsmanship on the global stage. As part of our ongoing commitment to design, culture and heritage, we were also glad to witness the reopening of Notre-Dame Cathedral in Paris at the end of the year, even more beautiful following its restoration, which took place with support from donors including LVMH. We also recently celebrated the 10th anniversary of the highly successful Fondation Louis Vuitton, which has drawn 11 million visitors since it opened and maintained its mission of making cultural events accessible to the widest possible audience. While remaining highly vigilant with regard to cost management and our single-minded focus on the desirability of our designs, we enter 2025 with confidence. Guided by our mission – ‘Passionate about creativity’ – and our core values, the Group will rely on the agility and talent of its teams to set the stage for future success and further extend its leadership in the luxury market.”