The various global events in the first quarter of 2022 definitely altered the outlook for the luxury conglomerate.
READ MORE: LVMH Doubles Profit in 2021, Remains The Leader of Luxury Goods. “The Chinese authorities have demonstrated an ability to take very energetic and broad-reaching measures to contain the pandemic in a fairly short period of time, so one could be hopeful that they will do the same again,” he said. However, Guiony is confident that the Chinese market luxury will bounce back as it has in the past. Chief financial offer Jean-Jacques Guiony shared that between 15 per cent to 25 per cent of its stores in the country had to be closed since 15 March. While in Asia (excluding Japan), demand continued to increase despite the effects of a tightening of health restrictions in Mainland China. Geographically, the US and Europe both logged double-digit revenue growth, dispelling concerns about the impact of the war in Ukraine on its sales. The group revealed that all its business groups achieved double-digit growth, except its Wines & Spirits division, which continued to face supply constraints. Its first quarter financial results recorded revenue of €18 billion, a 29 per cent increase compared to the same period in 2021. 
LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury conglomerate, has had a great start to 2022. Queue outside Louis Vuitton Maison Champs Élysées, Paris.
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