2023: New record year for LVMH

Extract from the press release published on January 25, 2024

Bernard Arnault, Chairman and CEO of LVMH

Bernard Arnault, Chairman and CEO of LVMH, commented: “Our performance in 2023 illustrates the exceptional appeal of our Maisons and their ability to spark desire, despite a year affected by economic and geopolitical challenges. The Group once again recorded significant growth in revenue and profits. Our growth strategy, based on the complementary nature of our businesses, as well as their geographic diversity, encourages innovation, high-quality design and retail excellence, and adds a cultural and historical dimension thanks to the heritage of our Maisons. This was reflected in Louis Vuitton and Christian Dior’s spectacular fashion shows, Tiffany’s reopening of “The Landmark” in New York and the ever-growing popularity of Sephora’s store concept worldwide. 2023 also saw us make progress in several key areas that are essential components of our long-term vision: protecting the environment, developing our talent, and preserving and passing on our expertise. While remaining vigilant in the current context, we enter 2024 with confidence, backed by our highly desirable brands and our agile teams. It promises to be an inspiring, exceptional year for us all, featuring our partnership with the Paris 2024 Olympic and Paralympic Games, whose core values of passion, inclusion and surpassing oneself are shared by our Group. For LVMH, it provides a new opportunity to reinforce our global leadership position in luxury goods and promote France’s reputation for excellence around the world.”


Revenue: 86.2 billion euros
+13% (1)

Profit from recurring
22.8 billion euros

Growth higher in the fourth quarter than in the third quarter

Major economic and social impact in France and around the world

(1) With comparable structure and constant exchange rates.

Another record year despite a disrupted environment

  • Strong organic revenue growth across all business groups except Wines & Spirits, and market share gains worldwide. 
  • Double-digit organic revenue growth in Europe, Japan and the rest of Asia. 
  • Negative currency impact in the second half of the year.
  • Growth in champagne driven by the value strategy and a transitional year for cognac after two years of strong growth. 
  • Remarkable performance by the Fashion & Leather Goods business group, in particular Louis Vuitton, Christian Dior, Celine, Fendi, Loro Piana, Loewe and Marc Jacobs, which gained market share worldwide and achieved record levels of revenue and profits.
  • Particularly strong momentum in fragrances and makeup across all regions, and ongoing global success of Dior’s Sauvage, once again the world’s best-selling fragrance in 2023.
  • Robust growth in jewelry and powerful creative momentum for all the Watches & Jewelry Maisons, in particular Tiffany, Bulgari and TAG Heuer. 
  • Exceptional performance by Sephora, which confirmed its position as world leader in beauty retail.

LIFE 360

2023 targets met under the LIFE 360 environmental program

  • New circular services launched at most Group Maisons; research and innovation program focused on new materials; environmental training center (LIFE Academy).
  • Tangible progress made towards targets for 2026 and 2030: 3.1 million hectares of flora and fauna habitat protected as of year-end 2023 (target: 5 million hectares by 2030); 63% improvement (up 16 points) in the proportion of renewable and low-carbon energy used in the Group’s energy mix; 28% decrease in energy-related CO2 emissions with respect to 2019.
  • Launch of LIFE 360 Business Partners, a groundbreaking plan to assist suppliers and partners to accelerate the reduction of Scope 3 impacts, particularly in relation to raw materials and transport.

social and economic footprint

Major economic and social impact in France and around the world

  • More than 213,000 employees worldwide as of year-end 2023 (including nearly 40,000 employees in France).
  • France’s largest private-sector recruiter.
  • Preserving and passing on skills and expertise in more than 280 professions of excellence in design, craftsmanship and customer experience, with over 2,700 apprentices trained by LVMH’s IME (Institut des Métiers d’Excellence) program since its launch in 2014, more than 8,000 employees worldwide hired by LVMH in these professions in 2023, and more than 3,500 positions to be filled in these professions at the Group’s Maisons in France by year-end 2024.
  • Over €1 billion invested in France every year.
  • 118 production facilities and craft workshops in France, 26 in Italy.
  • More than €6 billion in corporate tax paid worldwide in 2023, around half of which in France.
  • Support for over 950 nonprofits and charitable foundations in 2023, with more than 65,000 Group employees taking part in a community involvement partnership.

LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury goods group, recorded revenue of €86.2 billion in 2023, equating to organic growth of 13% with respect to 2022. All business groups reported strong organic revenue growth, with the exception of Wines & Spirits, which was faced with a high basis of comparison and high inventory levels. Europe, Japan and the rest of Asia achieved double-digit organic growth. In the fourth quarter, organic revenue growth came to 10%. 

Profit from recurring operations stood at €22.8 billion for 2023, up 8%. The current operating margin remained stable with respect to 2022. Group share of net profit amounted to €15.2 billion, up 8%.

Access the 2023 Full Year results webcast

Confidence in 2024

While the geopolitical and macroeconomic environment remains uncertain, LVMH is confident in its ability to continue to grow in 2024, in the highly distinctive quality and creativity that its products offer its customers, as well as in the professionalism of its management, to stand out and gain market share. LVMH will pursue its brand development-focused strategy, underpinned by continued innovation and investment as well as an extremely exacting quest for desirability and quality in its products and their highly selective distribution.

Driven by the agility of its teams, their entrepreneurial spirit and its well-diversified presence across the geographic areas in which its customers are located, LVMH therefore enters 2024 with confidence and once again sets an objective of reinforcing its global leadership position in luxury goods.

Dividend for 2023

At the Shareholders’ Meeting on April 18, 2024, LVMH will propose a dividend of €13 per share. An interim dividend of €5.50 per share was paid on December 6, 2023. The final dividend of €7.50 per share will be paid on April 25, 2024.

2023 Key Figures

  • 75 Maisons
  • 81 Countries
  • 213,000 Employees
  • 6,097 Stores
  • Revenue 86,153m
  • Profit
    from recurring
  • Operating
  • Group share
    of net profit
  • Operating
    free cash flow
  • Operating
  • Net financial debt/
    Equity ratio
  • Dividend per share
    to be proposed at 2024
    Shareholders’ Meeting

Focusing on key action areas

  • Respecting each one's
    dignity and individuality
    46% women in key positions within the Group (vs. 23% in 2007) (Target for 2025: 50%)
  • Transmitting our World
    heritage’s savoir-faire
    > 2,700 apprentices trained by the Institut des Métiers d’Excellence (IME) in 7 countries (France, Switzerland, Italy, Spain, Japan, Germany and the United States) since its launch in 2014
  • Supporting the safety
    and well-being of employees
    100% of Maisons have signed LVMH’s Health & Safety Charter – 8% decrease in accident frequency rate
  • Committing to a better society > 65,000 Group employees took part in community involvement initiatives through one of over 950 partnerships with nonprofits and charitable foundations

Putting the environment at the heart of creativity

  • Creative circularity 43% recycled raw materials in packaging
    (LIFE 360 objective by 2030: 70%)
  • Biodiversity 3.1 million hectares of preserved fauna and flora habitat
    (LIFE 360 objective by 2030: 5 million hectares)
  • Climat 63% renewable and low-carbon energy in the Group’s energy mix (up 16 pts) (LIFE 360 target for 2026: 100%)
  • 28% reduction in energy-related CO2 emissions (Scopes 1 and 2; baseline 2019) (LIFE 360 target for 2026: 50% reduction)


  • 100% French vineyards
  • 75% Cotton
  • 96% Leather
  • 99.6% Diamonds
  • Certified raw materials
    (LIFE 360 target for 2026: 100%)
  • Data as of December 31, 2023



2023 was a buoyant year for major stock markets, with most flagship indices climbing to all-time highs in December, despite the backdrop of economic slowdown and heightened geopolitical risk.

The CAC 40 – the flagship index of the Paris stock exchange – gained 16.5% in 2023, slightly underperforming the Euro Stoxx 50 (up 19.2%) and the DAX (up 20.3%). US markets fared even better in 2023, with the S&P 500 and the Nasdaq gaining 24.2% and 43.4%, respectively.

After a promising start to the year, particularly for luxury stocks following the lifting of China’s public health restrictions at the end of 2022, markets experienced considerable volatility in light of various threats hanging over the global economy (persistent inflation, a weaker-than-expected economic recovery in China and a banking crisis in March).

Relief came at the end of October with the first signs of slowing inflation on both sides of the Atlantic, paving the way for a potential central bank pivot toward monetary easing in 2024 and ultimately spurring a sharp year-end rally in equity markets. 

LVMH’s share price also saw a year-end rebound, recovering some lost ground to end the year up 7.9% at €733.60. LVMH’s market capitalization stood at €368 billion as of December 31, 2023, making the Group the most valuable company in the CAC 40. 

Comparison between the LVMH share price and the CAC 40 SINCE JANUARY 1, 2019

Follow the real-time trade


(in euros)





High (mid-session)





Low (mid-session)





Year-end share price





Change during the year (%)





Change in the CAC 40 (%)





Market capitalization at Dec. 31 (EUR bn)





Source: Euronext.

LVMH share CAC 40 Growth in 2023

+7.9% +16.5%

Year-end share price


Stock market capitalization

€368bnThe largest capitalization on the Paris stock market


Listed on Eurolist by Euronext Paris

Member of indices

CAC 40, Dow Jones Euro Stoxx 50, MSCI Europe, FTSE Eurotop 100, Global Dow and FTSE4Good.

Shareholder return

An LVMH shareholder who invested €1,000 on January 1, 2019 would have a capital of €3,061 on December 31, 2023, based on reinvested dividends. This represents a threefold increase over five years, equating to an average annual return of around 25.1%.


Louis Vuitton Family house and Asnières workshops, France

The LVMH Shareholders’ Club was set up in 1994 to give individual shareholders who are particularly interested in the life of the Group a better understanding of LVMH, its businesses and its brands. 

The LVMH Shareholders’ Club can be joined free of charge by any shareholder who owns at least one LVMH share listed on the Paris stock exchange.


We send Club members several publications to keep them informed of the latest news about our Maisons, such as the Annual Report, the twice-annual Letter to Shareholders and the annual issue of Apartés, our Club magazine.


Officine Universelle Buly, Paris

Throughout the year, the LVMH Shareholders’ Club holds exceptional in-person and virtual private tours of a number of its Maisons, such as Louis Vuitton’s workshops in Asnières, the Dior 30 Montaigne boutique and la Galerie Dior, the historic La Samaritaine department store by the Pont Neuf, the Maison Chaumet or the Guerlain 68 Champs-Élysées flagship in Paris. Club members can also reserve guided tours of unique sites such as Hennessy’s centuries-old cellars in Cognac, Veuve Clicquot and Ruinart’s magnificent crayères in Reims, as well as Moët & Chandon and Mercier’s champagne cellars in Epernay.


In addition to special offers on a selection of the Group’s wines and spirits, for delivery in France only, Club members can purchase discounted subscriptions to Group media publications – Les Echos, Investir, Le Parisien and Connaissance des Arts – and order priority-access tickets for the Fondation Louis Vuitton.


The detailed program of the Club’s visits as well as the exclusive offer of wines and spirits, subscriptions to the Group’s newspapers and magazines and tickets to the Fondation Louis Vuitton are available via the Club’s website at www.clublvmh-actionnaires.fr/en. This private online space, dedicated to Club members, can be accessed once they have created their account.

Join the Shareholders’ Club


April 2024

2024 first-quarter revenue

Thursday, April 18, 2024

Shareholders’ Meeting

Thursday, April 25, 2024

Payment of the final dividend for fiscal year 2023 (last trading day with dividend rights: April 22, 2024)

July 2024

2024 half-year revenue and results

October 2024

2024 third-quarter revenue

FocusLIFE 360: A look back on 2023’s commitments

For over 30 years, LVMH has been committed to protecting the environment, driven by a long-term vision and a holistic and scientific approach across all its business sectors. 

In 2021, the Group launched the LIFE 360 plan, which included objectives to be achieved by 2023, 2026 and 2030 and focused on four pillars: Creative circularity, Biodiversity, Climate, and Traceability & Transparency. The LIFE 360 Summit, which was held at UNESCO in Paris on Thursday, December 14, presented the major achievements of the Group and its Maisons while providing specific insights into future ambitions.

Creative circularity

Creative circularity

LVMH has achieved its 2023 target of offering new circular services by establishing a repair-and-care task force in several of the Group’s Maisons.

With the creation of LVMH Circularity, an ecosystem that brings together the reuse and recycling expertise of the Group and its partners (Nona Source, the CEDRE platform, weturn, and Agence Don en Nature), LVMH is demonstrating its commitment to giving a second life to fabric and leather offcuts, unused raw materials and unsold products.



After having helped regenerate 1.37 million hectares by the end of 2022, LVMH is continuing its efforts to reach its target of regenerating five million hectares by the end of 2030. This ambition will be made possible:

  • by launching various regenerative agriculture programs: in Türkiye for cotton, Australia for merino wool, South Africa for mohair, Indonesia for palm oil and France for Moët Hennessy vineyards and certain key perfume ingredients;
  • by announcing a strategic partnership with Brazilian NGO FAS, which combats deforestation and by working to renew its partnership with UNESCO’s “Man and the Biosphere” program for the protection of biosphere reserves. These two partnerships complement the partnerships already secured with Reforest’Action, which carries out reforestation projects, and the Circular Biodiversity Alliance, which produces sustainable cotton. In continuation of these initiatives, the Group has implemented a water efficiency plan to reduce the Group’s overall water consumption footprint by 30% by 2030.



Thanks to a reduction of 11% in its GHG (greenhouse gas) emissions scopes 1 and 2 (direct emissions) in absolute terms and 15% in its scope 3 (indirect emissions) per unit of added value between 2019 and 2022, LVMH has decoupled its growth from that of its CO2 emissions over the same period. This achievement was made possible by focusing on eco-design of products, a comprehensive energy efficiency plan, and a specific program dedicated to transport. The announced target of reducing energy consumption by 10% over the past year (October 2022 to October 2023) has also been surpassed.

Traceability & Transparency

Traceability & Transparency

The 2023 target of knowing the countries of origin of strategic raw materials is on track to being achieved, with the country of origin for diamonds, wool and leather known for 95-100% of products. The Group is also deploying new traceability tools from field to final product, such as the Perfumes & Cosmetics and Wines & Spirits divisions. The Group, which had set itself the target of “complete traceability” by 2026, is on track to achieve it. The certification rates for LVMH’s main supply chains have increased significantly over the past two years.

Beyond raising awareness, the Group has set a commitment to train all its employees in the Environmental Fundamentals by 2026. The LIFE Academy, which was created in 2023, is already providing staff with the skills they need to drive the transformation with specific content for each subject and initial pilot programs. Forty-five minutes outside of Paris, La Millière, a biodiversity reserve and association chaired by Yann Arthus-Bertrand, will soon host training on various topics necessary for creating differently, such as environmentally-friendly design, responsible sourcing, and the preservation and protection of natural resources.

Learn more about LIFE 360 SUMMIT


Louis Vuitton Women's Spring-Summer
2024 show

Louis Vuitton Men's Fall-Winter
2024 show

DiorHaute Couture Women's Spring-Summer 2024 show

Celine Women's Spring-Summer
2024 show



The LVMH website (www.lvmh.com) gives access to a wide range of regularly updated information on the Group and its Maisons. A section specially aimed at the financial community and LVMH shareholders features the share price in real time, its chart relative to the CAC 40, the events schedule, press releases and presentations, in particular the Shareholders’ Meeting, which can be watched live or on replay.

Access the LVMH website


Communications media can be viewed in the Publications section along with the Annual Report, the Social and Environmental Responsibility Report. LVMH also sends out Group news by email to web users who sign up for Press Release and Letter to Shareholders alerts. Lastly, a Calendar alert is available for those wishing to be advised of updates to this section and receive an email reminder the day before an event.

Subscribe to our Newsletters


Investor and Shareholder Relations
Phone: +33 (0)1 44 13 27 27

Shareholders’ Club
Phone: +33 (0)1 44 13 21 50
E-mail: clubactionnaires@lvmh.com