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World's largest luxury group LVMH posts better than feared full-year sales

The world's largest luxury company LVMH on Tuesday reported better-than-expected full-year sales, in the strongest sign yet of a potential turnaround in the high-end sector.

The owner of brands including Louis Vuitton, Moët & Chandon and Hennessy posted revenues of 84.68 billion euros ($88.27 billion) for 2024, versus the 84.38 billion euros forecast by LSEG analysts.

The full-year figure equates to organic growth of 1% versus the previous year, the company said.

Sales also rose more than expected in the fourth quarter to December, after falling for the first time since the pandemic in the three months prior. The growth was led by consumers in Europe, the U.S. and Japan, while the group cited continued weakness in the wider Asia region.

"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," Bernard Arnault, chairman and CEO of LVMH, said in a statement.

The results were driven by particularly solid performance in its selective retailing unit, which includes Sephora, as well as perfume and cosmetics. The group's critical fashion and leather goods, and wine and spirits segments, however, continued to lag.

Speaking during a presentation shortly after the release, Arnault noted a substantial decline in the company's cognac and spirits sales, but said he expects a recovery within two years as a new team takes over.

He added that, despite ongoing geopolitical and macroeconomic uncertainties, the group's outlook for 2025 was "starting well," according to a translation.

The French luxury goods giant is seen as a

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