Luxury companies all over Europe are up today, following yesterday's $LVMH Q1 report.
We have gathered 15 Key Insights from the earnings call and slide deck. Let's dive in![]()
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1. Asia, particularly China, is now bouncing back rapidly after a long period of restrictions:
1. Asia, particularly China, is now bouncing back rapidly after a long period of restrictions:
2. Both in-store traffic and the online business is picking up in the previously troubled China:
3. Revenue growth by Geography:
4. Organic growth by Business Group:
5. $LVMH was asked if the growth in Q1 was mainly attributable to price increases, but CFO Jean-Jacques implies that volume is still a key growth component:
6. And here's another excerpt on how to think about $LVMH's price increases in 2023:
7. Although, Jean-Jacques does not seem worried about the strength of the Hennessy brand:
8. Champagne & Wines saw very strong growth though:
9. $LVMH also mentioned the reopening of Tiffany's iconic flagship store on Fifth Avenue in New York after its four-year reconstruction. Apparently, this one location accounted for roughly 10% of Tiffany's sales a few years ago, according to the previous management team.
10. On $LVMH's delayed "margin explosion" strategy:
11. The answer is no, and it isn't the first time they get asked, says Jean-Jacques:
12. Louis Vuitton is blurring the boundaries between distribution, marketing and product strategies:
13. Fashion & Leather Goods highlights:
14. Selective retailing, led by Sephora, grew +28% organically in the first quarter:
15. Despite the troublesome macro environment, $LVMH is very excited for the rest of the year:
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