Financial Data and Key Metrics - Revenue for the first nine months of 2024 reached EUR60.8 billion, stable on an organic basis but down 2% on a reported basis due to a negative 2% currency impact and a negative 1% scope impact [4] - Wines and Spirits revenue decreased by 8% on an organic basis and 11% on a reported basis, with Champagne and Wines down 6% organically and Cognac and Spirits down 11% organically [7] - Fashion and Leather Goods revenue decreased by 1% on an organic basis and 3% on a reported basis [10] - Perfumes and Cosmetics revenue increased by 5% on an organic basis and 2% on a reported basis [14] - Watches and Jewelry revenue decreased by 3% on an organic basis and 5% on a reported basis [16] - Selective Retailing revenue increased by 6% on an organic basis and 1% on a reported basis [20] Business Line Performance - Wines and Spirits saw modest improvement in Champagne and Wines, with growth in Japan offsetting softness in Europe and the US [8] - Fashion and Leather Goods saw strong innovation from Louis Vuitton and Christian Dior, with new product launches and high-profile collaborations [10][11][12] - Perfumes and Cosmetics benefited from strong performance in fragrances, particularly from Parfums Christian Dior and Guerlain [14][15] - Watches and Jewelry saw resilience, with Tiffany expanding its product range and Bulgari celebrating its 140th anniversary [17][18] - Selective Retailing saw strong performance from Sephora, with market share gains in North America, Europe, and the Middle East [20] Market Performance - Europe and the US saw a 1-point increase in revenue mix, while Japan increased by 2 points and Asia fell by 3 points [4] - Chinese client purchases outside mainland China had a positive impact on Japan but a negative impact on the rest of Asia [5] - Demand from Chinese clientele remained dynamic in the first half but faced macroeconomic headwinds, while Western clientele showed gradual improvement [3][4] Strategic Direction and Industry Competition - The company emphasized product innovation as a key growth driver, leveraging its talent pool to translate creativity into commercial success [23] - Investments in distribution networks and communication were highlighted as important, with no need for acceleration in spending [23] - The company remains confident in the enduring appetite of Chinese consumers for luxury goods, expecting demand to recover when confidence improves [22][23] Management Commentary on Operating Environment and Future Outlook - Consumer confidence in mainland China is at an all-time low, similar to levels seen during COVID, impacting discretionary spending [22] - The company expects demand to recover in China when confidence improves, given the strong demand seen in the first half of the year [23] - The company is adjusting costs in response to the current environment but remains committed to long-term investments in innovation and distribution [23][24] Other Important Information - The company announced a strategic investment in French Bloom, a non-alcoholic sparkling wine producer [9] - Louis Vuitton was a key partner for the Paris 2024 Olympic and Paralympic Games and returned as the title partner of the Louis Vuitton 37th America's Cup [10] - The company launched SirDavis Whiskey in partnership with Beyoncé Knowles-Carter, which has already won several prestigious awards [9] Q&A Session Summary Question: Impact of Chinese stimulus on consumer demand - The company noted that Chinese authorities are taking measures to address consumption issues, but the impact of these measures remains uncertain [31][32] Question: Management changes and their implications - The company highlighted the retirement of Chris de Lapuente and expressed confidence in the continuity of its management strategy [32] Question: Strategy changes to address aspirational consumer loss - The company emphasized that the current slowdown is demand-driven rather than offer-driven and will continue to innovate without drastically changing its product range [34][35] Question: Performance of Watches and Jewelry in China - Watches and Jewelry saw a similar trend to Fashion and Leather Goods in China, with no further deterioration in Q3 [37][51] Question: Impact of anti-dumping deposits on Hennessy in China - The company noted that China accounts for less than 20% of Hennessy's business and that the impact of the anti-dumping deposit will depend on various factors, including competition response [42] Question: Trends in onshore vs offshore Chinese spending - Offshore spending by Chinese consumers has increased, with Japan being a key destination, while onshore spending has weakened [48] Question: Outlook for US demand - The company noted slight improvements in the US market, particularly in Cognac and Tiffany, but remained cautious about the overall outlook [69] Question: Retail plans for key Maisons - The company plans to continue renovating Tiffany stores, with 25% already renovated, and expects double-digit growth in these stores [49][78] Question: Impact of Champagne harvest on profitability - The Champagne harvest yield was significantly lower than last year, leading to an expected negative impact of EUR40-50 million on profitability [80] Question: A&P spending and working capital management - The company noted that A&P spending is easier to adjust and that working capital management will be challenging due to excess inventories [83][84] Question: Investment in Moncler - The company described its investment in Moncler as a long-term, limited investment alongside Remo Ruffini, with no plans for further acquisitions [85]

LVMHT Q3 2024 revenue October 15, 2024 This document may contain certain forward looking statements which are based on estimations and forecasts. By their nature, these forward looking statements are subject to important risks and uncertainties and factors beyond our control or ability to predict, in particular those described in LVMH's Universal Registration Document which is available on the website (www.lvmh.com), These forward looking statements should not be considered as a guarantee of future performa ...

Lowered estimates, due mainly to discouraging consumer trends in China, prompted a re-evaluation of the company's value. Luxury-goods stock LVMH Moët Hennessy (LVMUY -3.61%) wasn't looking too exclusive on Hump Day. The company's share price had eroded by nearly 4% at market close, due in no small part to an analyst's rather assertive price-target cut. That tumble was significantly steeper than that of the S&P 500 index, which ended the day down 0.2%. Time for a price-target chop That analyst was Morgan Sta ...

LVMH Moët Hennessy is releasing a new whisky brand with Beyoncé. You might think that owning a fancy watch or expensive clothing is the best way to add a little luxury to your life. I'd argue that purchases like that aren't worth it, though. Fashion trends change quickly, and at the end of the day, all watches tell the same time. Instead, you might want to consider investing in luxury brands as opposed to wearing them. One of the best examples I can think of in the luxury space is LVMH Moët Hennessy (LVMUY ...

KEY TAKEAWAYS LVMH's second-quarter results, with tepid sales disappointing investors, showed that the pullback by consumers on high-end items and cooling Chinese spending is affecting even the world's largest luxury firm. The company, whose brands include Dior and Louis Vuitton, reported Q2 year-over-year organic revenue growth of just 1% to 20.98 billion euros. LVMH's weak sales dragged other luxury brands, with trench coat maker Burberry, Gucci owner Kering, and Cartier owner Richemont among those lower ...

Rodolphe Ozun - Director of Financial Communications Jean-Jacques Guiony Rodolphe Ozun Turning to Fashion & Leather Goods on Slide 10 revenue reached €20.8 billion for the first half of 2024, up 1% on an organic basis and down 2% on a reported basis after taking into account a negative 3% currency impact. Profit from operations reached €8.1 billion, down 6% year-on-year. The main drivers of this decline are continued investments in distribution, which were partially offset by communication expenses and more ...

2024 First-Half Results Selective Retailing – Organic revenue up 8%, profit from recurring operations up 7% Selective Retailing – Change in revenue and profit from recurring operations (in millions of euros) +8% organic Profit from recurring operations Balanced geographic revenue mix €41.7bn REVENUE FRANCE 8% UNITED STATES vs. 8% in H1 2023 25% vs. 24% in H1 2023 JAPAN 9% vs. 7% in H1 2023 EUROPE (excl. France) OTHER MARKETS ASIA (exch) 16% 12% 30% vs. 12% in H1 2023 vs. 15% in H1 2023 vs. 34% in H1 2023 Qu ...

A surprise election result in its home country dinged the stock of luxury goods specialist LVMH Moët Hennessy Louis Vuitton (LVMUY -3.34%) on Monday. The company saw the price of its U.S.-listed shares dip by over 3% on the day, while the bellwether S&P 500 index crept up to close 0.1% higher. Investors dislike uncertainty, and the weekend parliamentary elections in France resulted in quite a bit of it the following day. The hard-right National Rally was expected to score a crushing victory, but that didn't ...

LVMH Moët Hennessy - Louis Vuitton, Société Européenne [LVMHF] Q1 2024 Sales/Trading Statement Call April 16, 2024 12:00 PM ET Company Participants Rodolphe Ozun - Director, Financial Communications Jean-Jacques Guiony - Chief Financial Officer Conference Call Participants Chiara Battistini - J.P. Morgan Chase Erwan Rambourg - HSBC Rogerio Fujimori - Stifel Nicolaus Zuzanna Pusz - UBS Ashley Wallace - Bank of America Thomas Chauvet - Citigroup Antoine Belge - BNP Paribas Edouard Aubin - Morgan Stanley Luca ...

..... LVMH Q1 2024 revenue April 16, 2024 This document may contain certain forward looking statements which are based on estimations and forecasts. By their nature, these forward looking statements are subject to important risks and uncertainties and factors beyond our control or ability to predict, in particular those described in LVMH's Universal Registration Document which is available on the website (www.lvmh.com), These forward looking statements should not be considered as a guarantee of future perfo ...