LVMH Selective Retailing enjoys 20% organic boost in 9M; headwinds for DFS

By Luke Barras-hill |

DFS Group’s activities were hampered by the ‘persistent lack of travel’ linked to ongoing restrictions across Asia in the first nine months of 2022, according to LVMH Moët Hennessy Louis Vuitton.

In a results statement released yesterday (11 October), the luxury goods giant’s Selective Retailing division, which includes Starboard Cruise Services among five houses, grew its reported revenue by 30% to €10,095 million/$10,004 million for the period in question.

The result adds €2,300m to the business division’s balance sheet versus the result in the first nine months of 2021.

Sephora notched a strong performance, as in-store activities rebounded with momentum notably strong in North America, France and the Middle East.

 

Source: LVMH. Click to enlarge.

Meanwhile, its omni-channel strategy absorbed further investment as it seeks to elevate brick-and mortar and online shopping experiences for its customers.

Group revenue for Bernard Arnault’s firm LVMH jumped 28% (+20% organic) year-on-year in the nine months of 2022 to total €56,485 million.

Europe, the US and Japan, experienced solid demand from local customers and benefitted from the continued recovery in international travel.

 

Source: LVMH. Click to enlarge.

Though growth in Asia in the latest quarter accelerated due to the partial easing of health restrictions, the region (excluding China) returned a lower level of growth over the nine-month period.

LVMH revenues reached €36,729m in half-year 2022, yet the result in Q3 surpassed the respected results achieved in Q1 (€18bn) and Q2 (€18.7bn).

DFS Group placed fifth in the TRBusiness Top 10 International Operators 2022 report based on 2021 sales totals.

To read an interview with Chairman and CEO Benjamin Vuchot inside the TRBusiness Top 10 International Operators 2022 report, click here.

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