LVMH sales have started to slow down The group's quarterly growth has slowed to single digits for the first time since 2020
LVMH Group said its fourth-quarter revenue grew organically by 9 per cent. This is a slowdown from 20 per cent growth in the first nine months of 2022, but still beats analysts' estimates of 7 per cent growth. For the full year, Group sales rose 23 per cent year-on-year to 79 billion euros (86 billion US dollars).
The Celine brand also posted sales of more than €2 billion, meeting the targets it has set itself since designer Hedi Slimane took the helm of the brand in 2018. Also, given recent changes at the top of the group - earlier this month, Dior CEO Pietro Beccari took over as head of Louis Vuitton, while Delphine Arnault, Arnault's eldest daughter, will become CEO of Dior - it cannot be ruled out that the group could be reshuffled on a creative level. Indeed, the sons' appointments could be a sign that a major changing of the guard is underway, although Arnault declined to comment on plans for his succession.
