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French luxury fashion house LVMH-Moet Hennessy Louis Vuitton (OTC:LVMHF) (OTC:LVMUY) reported nine months of FY23 sales growth of 10% Y/Y to €62.205 billion.
Organic revenue growth was 14% in the nine months ended FY23 and 9% in Q3 FY23.
The company witnessed continued organic revenue growth for all business groups, excluding Wines & Spirits (-7% Y/Y) on high comparables in the nine months.
The owners of Louis Vuitton and Christian Dior fashion houses saw a 26% jump in the organic sales of Selective Retailing on the strong performance of Sephora and continued to gain market share in Europe, North America and the Middle East.
Also, organic sales grew 16% in the Fashion & Leather Goods segment on the strong performance of Louis Vuitton.
All geographies, Europe, Japan, and the Rest of Asia achieved double-digit organic growth in the period.
Amid an uncertain economic and geopolitical environment, LVMH expects continued growth and focuses on accelerating powerful brands and further boosting its leadership in the global luxury goods market in 2023.
Also Read: French Fashion Giant LVMH Named Partner For Paris 2024 Olympics
