LVMH Luxuries Boom: Wines and Spirits Do Less Well

The luxury group Louis Vuitton Moët Hennessy (LVMH) has presented its annual results. An overall positive result contrasts with shrinking profits in wine and spirits.

Reading time: 45s

The luxury segment continues to grow (Photo: LVMH)
The luxury segment continues to grow (Photo: LVMH)

The latest results from the conglomerate LVMH show the wine and spirits division's organic revenue falling by 4% compared to the previous year. This contrasts with a 13% organic growth in the total revenue of the group. In 2023 this was €86.2bn, with €6.6bn of that coming from wine and spirits.

According to LVMH, the decline in revenue is due to an exceptionally strong year in 2022. There has been growth in the Champagne business, particularly in Europe and Japan, which helped offset the impact of a weaker U.S. market. Hennessy Cognac faced post-Covid sales challenges in the U.S. and China, with retail inventory needing to be reduced. In the rosé wine segment, LVMH acquired the renowned Minuty winery in Provence, one of the largest in the region.

The Group believes it is well positioned for the coming financial year and is targeting further growth.


Robert Joseph wonders how far producers can go in their efforts to produce 'fine wine'.

Reading time: 2m 30s



Latest Articles