Corporate Sales: $95 billion

Beauty Sales: $8.3 billion

Major Products/Brands:
Perfumes and Cosmetics under brands including:

• Parfums Christian Dior
• Guerlain
• Acqua Di Parma
• Givenchy Parfums
• Perfumes Loewe
• Kenzo Parfums
• Benefit Cosmetics
• Make Up For Ever
• Fresh
• KVD Beauty
• Maison Francis Kurkdjian
• Marc Jacobs Beauty
• Fenty Beauty by Rihanna
• Celine (new)
• Sephora

New Products:

• Celine Rouge Triomphe lipstick
• Guerlain Aqua Allegoria fragrances
• Guerlain Terracotta Le Teint makeup
• Francis Kurkdjian’s latest creation
• L’Or de J’adore
• Benefit’s The Porefessional
• Fenty Skin Hydrating Body Milk

Comments: 2023 was declared “a new record year” for LVMH, as total revenue grew 9% over 2022, reaching $95 billion. The luxe French family-owned conglomerate owns 75 brands across fashion, beauty, spirits and jewelry. The Perfumes and Cosmetics category grew to reach $8.3 billion.  France’s largest private-sector recruiter employed more than 213,000 people worldwide as of year-end 2023 (including nearly 40,000 employees in France).
The company reported strong movement in fragrances and makeup across all regions—as well as the ongoing global success of Dior’s Sauvage, which was once again the world’s best-selling fragrance in 2023. Sephora, too, boosted the bottom line, and according to LVMH, earned its position as “the world leader in beauty retail.”

The Perfumes & Cosmetics business group posted organic revenue growth of 11% in 2023 thanks to its “highly selective retail policy and dynamic innovation strategy, backed by the scientific excellence of LVMH’s research center.” Profit from recurring operations was up 8%. The Christian Dior brand led the way, extending its lead in key markets.

Fragrances were once again boosted by the success of the iconic Dior scents—Sauvage, Miss Dior, and J’adore—as well as Francis Kurkdjian’s latest creation, L’Or de J’adore. Makeup (with Dior Addict) and skincare (with Prestige and L’Or de Vie) also contributed to the Maison Dior’s growth. Guerlain continued to grow, driven by the popularity of its Aqua Allegoria line and its L’Art et la Matière high-end fragrance collection, as well as the popularity of its Terracotta Le Teint makeup. Parfums Givenchy benefited from its fragrances’ ongoing success. Benefit was boosted by its The Porefessional skincare line, while Fenty Beauty posted strong growth, driven especially by its innovations in mascara.

Bernard Arnault, Chairman and CEO of LVMH, commented: “Our performance in 2023 illustrates the exceptional appeal of our Maisons and their ability to spark desire, despite a year affected by economic and geopolitical challenges.” The Group once again recorded significant growth in revenue and profits.

LVMH invested 150 million euros in the 2024 Olympic and Paralympic Games in Paris, in order “to reinforce its global leadership position in luxury goods and promote France’s reputation for excellence around the world.”
In a year that bucked “a disrupted environment,” LVMH racked up strong organic revenue growth across all business groups except Wines & Spirits, worldwide market share gains, and double-digit organic revenue growth in Europe, Japan, and the rest of Asia.

As far as the company’s sustainability-focused 2023 targets met under their LIFE 360 environmental program, new circular services were launched at most Group Maisons; their research and innovation program focused on new materials and their environmental training center (LIFE Academy).

Targets were also met for 2026 and 2030—3.1 million hectares of flora and fauna habitat protected as of year-end 2023 (target: 5 million hectares by 2030); 63% improvement (up 16 points) in the proportion of renewable and low-carbon energy used in the Group’s energy mix; 28% decrease in energy-related CO2 emissions with respect to 2019. The Launch of LIFE 360 Business Partners, a “groundbreaking” plan to assist suppliers and partners to accelerate the reduction of Scope 3 impacts, in particular, related to raw materials and transport.

2023/2024 Highlights:

In November 2023, Dior debuted its first La Collection Privée fragrance boutique in the U.S., at JFK Airport Terminal 1, allowing travelers to shop “the brand’s most exquisite high perfumery collection.”

Bernard Arnault, Chairman and CEO of LVMH, commented: “Our performance in 2023 illustrates the exceptional appeal of our maisons and their ability to spark desire, despite a year affected by economic and geopolitical challenges.” In Beauty, Arnault cited “the ever-growing popularity of Sephora’s store concept worldwide.”

In March of 2024, Celine, one of LVMH’s maisons, announced the launch of its first-ever cosmetics collection—a range of satin-finish lipsticks. The brand had debuted a successful “haute parfumerie” collection in 2019. A “classic” satin lipstick in shade Rouge Triomphe will launch this autumn, followed by a 15-shade lipstick collection Le Rouge Celine in January 2025. Celine Beauté will launch new lines each season; each will include lip balms, mascaras, eyeliners, and pencils—as well as loose powders, blushes, and nail polishes.

Fashion also carries over to beauty at LVMH-owned Prada, which boosted its fragrance collection by launching a cosmetics and skincare collection last year.

Luxury fashion brand Rabanne also announced its first set of lip products, eye shadow palettes, and pigments.

Dolce & Gabbana brought its beauty business in-house to produce its own cosmetics, skincare, and fragrances.

Looking Ahead:

At the start of 2024, Bernard Arnault stated: “While remaining vigilant in the current context, we enter 2024 with confidence, backed by our highly desirable brands and our agile teams. It promises to be an inspiring, exceptional year for us all, featuring our partnership with the Paris 2024 Olympic and Paralympic Games, whose core values of passion, inclusion, and surpassing oneself are shared by our Group. For LVMH, it provides a new opportunity to reinforce our global leadership position in luxury goods and promote France’s reputation for excellence around the world.”

In Q1 2024, citing an “uncertain geopolitical and economic environment,” LVMH said sales dropped even though Sephora reported “remarkable growth.” The French luxury retailer revealed a revenue decline of 2% from €21bn for the same period in 2023 to €20.7bn.

Momentum at Sephora was said to be “particularly strong” in North America, and continued its expansion in the Middle East and Europe. Sephora is set to expand its UK retail footprint this year, with three new stores opening in Q3. However, the beauty retailer exited Korea after five years. Jean-Jacques Guiony, LVMH’s CFO, said, they are closing Korea “because there is no winning strategy there.”

LVMH’s Perfumes & Cosmetics business achieved 7% organic growth in Q1, achieving €2.2bn for the quarter. Luxury beauty was driven by fragrance “champions” and a “selective distribution strategy.” Christian Dior delivered an “excellent” performance thanks to the success of its Sauvage, J’adore, and Miss Dior franchises. The relaunch of the Dior makeup range, Rouge Dior, and its Capture skincare line were also key drivers.

Other strong products included Parfums Givenchy, thanks to the expansion of its L’Interdit fragrance. Maison Francis Kurkdjian also maintained solid growth thanks to its hero fragrance Baccarat Rouge 540. Skincare and cosmetics from Guerlain also contributed to the division’s growth. The luxury beauty brand experienced “robust demand” for its Aqua Allegoria fragrances, Abeille Royale creams, and Terracotta powder makeup.

In June, Bernard Arnault promoted his son Frédéric to Managing Director of the family holding company Financière Agache. The 29-year-old will lead Financière Agache, which controls LVMH’s French beauty and fashion empire. All five of Arnault’s children currently hold executive positions within the LVMH roster.

LVMH reported that net profit fell 14% to 7.3 billion euros in the first six months of 2024, below analysts’ forecasts. Sephora, however, delivered double-digit growth in the first 6 months of the year. The French group posted total like-for-like sales of €41.6bn ($44.5 billion), down 1% compared to last year. The group said it was adversely impacted by the weakening of global currencies against the euro, especially the Chinese renminbi and the Japanese yen, as net profit fell 14% to €7.26bn (£6.10bn).

There will likely be a focus on Sephora for the remainder of this year.

Bernard Arnault said “Sephora will continue to reinforce its position in key markets such as Europe, the Middle East, and North America” in the second half of the year including investing in the UK market “where it will continue to reinforce its very fast-growing position.”

Corporate Sales: $84.5 billion

Beauty Sales: $8.5 billion

LVMH’s Fragrance & Cosmetic Brands

• Guerlain
• Acqua Di Parma
• Parfums Christian Dior
• Givenchy Parfums
• Perfumes Loewe
• Kenzo Parfums
• Benefit Cosmetics
• Make Up For Ever
• Fresh
• KVD Beauty
• Maison Francis Kurkdjian
• Marc Jacobs Beauty
• Cha Ling
• Fenty Beauty by Rihanna

* LVMH also owns Sephora

New Products:

• Dioriviera EDP
• Christian Dior J’Adore Parfum d’Eau
• Aqua Allegoria Forte fragrances
• Maison Francis Kurkdjian 724 fragrance
• Acqua di Parma Colonia fragrance
• YSL All Hours foundation
• La Créme skincare
• Benefit Porefessional skincare
• Fresh Tea Elixir
• Gimme Brow+ volumizing pencil
• Make Up For Ever HD Skin
• Fenty Hella Thicc mascara
• Fenty Beauty Gloss Bomb Universal Lip Luminizer in Hot Chocolit Fantasy

LVMH Is Synonymous with Luxury

LVMH is one of the world’s largest luxury houses, its CEO is the wealthiest man in the world.

Bernard Arnault has an estimated wealth of $190.7 billion—putting the CEO ahead of Elon Musk, Jeff Bezos and Bill Gates in December.

In 2023, LVMH has become one of the world’s biggest spenders, with huge advertising expenditures in line with the upcoming 2024 Olympics to be held in Paris. In July, LVMH signed on as a Premium Partner of Paris 2024 Olympic and Paralympic Games, in a deal rumored to be worth 150 million euros. Sephora will be a partner for the Olympic Torch Relay.

Market Stats—By the Numbers

In 2022, despite the world’s problems, the luxury and ultra-luxe markets fared well—and LVMH was at the top of the game in all of its categories, including fashion, spirits, and beauty.

Corporate sales rose 23% in 2022, reaching $84.5 billion. Sales of perfumes and cosmetics increased at about 17%, to $8.5 billion. By region, sales in Asia (excluding Japan) accounted for 35% of sales; followed by Europe (excluding France), 20%; the U.S., 19%; other markets, 12%; France, 9% and Japan, 5%.

Arnault said: “Our performance in 2022 illustrates the exceptional appeal of our Maisons and their ability to create desire during a year affected by economic and geopolitical challenges.”

LVMH also reported “a remarkable rebound for Sephora, which confirmed its place as world leader in the distribution of beauty products.” Sephora performance was especially strong in North America, Europe, the Middle East and in most Southeast Asian countries.

With more than 500 stores and 110 manufacturing facilities and workshops located across France. LVMH recruited more than 15,000 people in 2022, which makes the Group the leading private recruiter in the country.

Coming out of the pandemic, makeup sales accelerated and prestige fragrances continued their upward spiral. However, skincare sales declined in China due to further Covid-19 lockdowns.

Sales—By Brand

By brand, Christian Dior sales rose worldwide, led by gains in the U.S., South Korea, Southeast Asia and the Middle East.

According to LVMH, Sauvage, faced by Johnny Depp since 2015, continued in its role as not only top in the men’s fragrance category, but is “the world’s best-selling fragrance across all categories.” The fragrance is now available in refillable packaging.

The growth in Guerlain sales was also led by fragrance gains. Aqua Allegoria Forte was a popular launch.

In makeup, top performers included Gimme Brow+ volumizing pencil and Wanderful World powder blushes. Fresh got a lift from the launch of Tea Elixir, a serum said to boost skin’s resilience to stressors.

Parfums Givenchy’s sales rose due to existing fragrances as well as the launch of Gentlemen Réserve Privée, a collaboration with Glennmorangie whiskey.

Seemingly unstoppable Fenty Beauty sales doubled via expanded distribution and new product launches like Butta Drop shimmering whipped oil body cream.

Key Leadership Changes at LVMH

At the end of 2022, Sephora named a new CEO—Guillaume Motte, who had most recently served as deputy CEO of LVMH Fashion Group.

In March 2023, LVMH brand Acqua di Parma named Giulio Bergamaschi as its new chief executive officer.

Other key appointments made in March were Stéphane Rinderknech, who was as named chief of LVMH Perfumes and Cosmetics; Véronique Courtois who now heads up Parfums Christian Dior, and Gabrielle Saint-Genis Rodriguez who now runs Guerlain.

Note: In September 2023, Sephora North America named a new president and future CEO, Artemis Patrick.

Record Revenue in 2023

LVMH recorded record revenue in the first half of 2023, with all business groups achieving double-digit organic revenue growth over the half year, except for Wines & Spirits.

Reported revenue was $46.8 billion in the first half of 2023, up 15%. Organic revenue growth was 17% compared to the same period in 2022.

The Perfumes & Cosmetics business group reported $3.6 billion and recorded organic revenue growth of 13% in the first half of 2023 “due to strong momentum achieved through innovation, combined with a highly selective distribution policy.”

Christian Dior strengthened its leadership in its strategic markets, not only with Sauvage, but with J’adore and Miss Dior. In makeup, Dior Addict Lip Maximizer and Forever Skin Correct foundation were top performers.

Christian Dior skincare also showed excellent performance, particularly in the premium segment in Asia with its iconic Prestige range. Guerlain continued to grow, while newly launched Fenty Beauty’s Hella Thicc mascara, is already one of the Maison’s bestsellers.

In August, Dior launched its new J’adore L’Or fragrance, created by master perfumer Francis Kurkdjian, who continues to run his business which is now part of the LVMH group.

The perfume is a new play on the original 1999 J’adore flanker, “moved from the aura of J’adore to the gold of J’adore,” said Kurkdjian.

The new EDP has also redesigned the wrapped necklace design of the bottle, replacing it with a textured sheet of metal around the top. “Its headdress-style lid crafted in metal and glass is like a true talisman, to be treasured over time as it captures new ‘drops of fragrance’,” according to Dior.

Looking Ahead

In an uncertain geopolitical and economic environment, the Group says it will maintain a strategy focused on continuously strengthening the desirability of its brands, by relying on the “exceptional quality of its products and the excellence of their distribution.”

“Thanks to the desirability of our brands, we approach the second half of the year with confidence and optimism, but will remain vigilant within the current environment and count on the agility and talent of our teams to further strengthen our global leadership position in luxury goods in 2023,” Arnault added.

Corporate Sales: $73 billion
Beauty Sales (Perfumes & Cosmetics): $7.5 billion

Major Brands/Products: Perfume and cosmetic brands, including Guerlain, Acqua Di Parma, Parfums Christian Dior, Givenchy Parfums, Givenchy Gentlemen Perfume, Perfumes Loewe, Benefit Cosmetics, Make Up For Ever, Kenzo Parfums, Fresh, KVD Beauty, Maison Francis Kurkdjian, Marc Jacobs Beauty, Cha Ling, Fenty Beauty by Rihanna, Officine Universelle Buly, Stella McCartney skincare.

New Products: La Collection Privée Christian Dior, Addict Natural Glow Makeup Set, Guerlain Aqua Allegoria, Guerlain L’Art et la Matiére; Benefit Boi-ing Bright On concealer, Benefit They’re Real mascara; Make Up For Ever HD Skin foundation, Givenchy Fraîche Irresistible, Fenty Beauty Glazy Face Radiant Duo, Fenty Beauty Eaze Into It Bundle, Fresh Tea Elixir Skin Resilience Activating Serum.

2021/2022 Highlights

LVMH reported that 2021 was a record year, especially for its major brands, with the world’s leading luxury goods group achieving overall corporate sales of $73 billion, up a dramatic 44% compared to 2020 and up 20% compared to 2019.

Organic revenue growth was 36% compared to 2020 and 14% compared to 2019. The company said that this annual performance “confirms a return to strong growth momentum following the severe disruption to the first half of 2020 resulting from the global pandemic.” Much of the revenue was due to the company’s Fashion & Leather Goods segment.

The Perfumes & Cosmetics segment topped out at $7.5 billion, a 26% rise over 2020, with the luxury company reporting a “strong rebound in perfumes and rapid progress in skincare.”

By region, Asia (excluding Japan) accounted for 42% of sales. This more than doubled sales percentages in Europe (excluding France) at 19% and nearly tripled those in the U.S. at 16%. Other markets accounted for 10% of sales, followed by France, 9%, and Japan, 4%.

The business group recorded organic revenue growth of 27% in 2021 compared to 2020. Organic revenue was stable compared to 2019. Profit from recurring operations was nearly nine times higher than 2020 and returned to 2019 levels. “In an environment marked by a limited recovery in international travel and the closure of many points of sale over a period of several months,” LVMH reported that its major brands “chose to maintain a policy of selective distribution, limiting promotions and growing online sales on their own website.” Christian Dior was especially successful thanks to Miss Dior and Sauvage fragrances. In fact, LVMH says that in 2021, Sauvage, faced by Johnny Depp, became the highest selling fragrance in the world (women’s and men’s lines included) —“a worldwide first for a male fragrance.”

Also contributing to the segment’s growth: Dior’s Collection Privée and the skincare lines Prestige, Capture Totale and L’Or de Vie. Guerlain’s excellent performance was driven by its Abeille Royale and Orchidée Impériale skincare lines. Maison Francis Kurkdjian continued on a rapid growth path thanks to the ongoing success of Rouge 540, particularly in the U.S. Additionally, new acquisition Officine Universelle Buly added strength with its range of products.

Selective Retailing, which includes Sephora, added another $13 billion to the giant luxury conglomerate’s net total. Sephora surpassed its 2019 level of activity, benefiting from the strong rebound in its stores and the continued momentum of its online sales. The expansion of its store network continued, mainly in China and the United States, notably following on from its major partnership with the American retailer Kohl’s. Just recently, Sephora announced it will expand into all Kohl’s stores, reportedly aiming to add $2 billion in sales annually by 2025. In addition to signing a partnership with the European online platform Zalando, Sephora acquired the British online distributor Feelunique, which specializes in prestige beauty.

Upon the release of the annual report, Bernard Arnault, chairman and CEO of LVMH, said: “LVMH enjoyed a remarkable performance in 2021 against the backdrop of a gradual recovery from the health crisis. The Group’s record results could not have been achieved without the efficiency and exceptional ability of our teams to adapt and notably to remain connected to our customers, continuing to inspire dreams, despite the crisis…The Group and its Maisons carried out numerous actions in 2021 to promote biodiversity, protect nature and to preserve skills and craftsmanship, and will continue to do so in the years to come. Despite the uncertainties that remain at the start of this new year, which continues to be disrupted by health concerns, we approach 2022 with confidence and are convinced that LVMH is in an excellent position to further strengthen its lead in the global luxury market.”

In August, LVMH revealed a collaboration with Stella McCartney on a new D2C “clean beauty” skincare line, a new corporate maison, set to launch at press time. The minimalist, socially and environmentally conscious brand—from formulation to packaging to philanthropy—has been in development for several years. (LVMH is a minority partner in the Stella McCartney brand. The scent for the skincare products was created by Francis Kurkdjian, another LVMH maison.)

Looking Ahead

In July 2022, according to a report in WWD, Jean-Jacques Guiony, chief financial officer at LVMH offered a “wait and see” approach on the second half of the year, “as the company evaluated issues of inflation, possible recession, supply chain disruptions, Chinese lockdowns and the war in Ukraine.” However, the company reported a 27% increase in revenues in the three months ended June 30.

Corporate Sales: $55 billion
Beauty Sales (Perfumes & Cosmetics): $6.4 billion

Major Products: Perfumes and Cosmetics brands, including Guerlain, Parfums Christian Dior, Givenchy, Acqua di Parma, Perfumes Loewe, Maison Francis Kurkdjian, Benefit Cosmetics, Fenty Beauty by Rihanna, Make Up For Ever, Kenzo Parfums, Fresh, KVD Vegan Beauty, Marc Jacobs Beauty; Sephora

New Products: Miss Dior Roses N’Roses, J’adore Infinissime perfume, Rouge Dior lipstick and makeup, Fenty Skin, by Rihanna, new Dior Homme, Dior Forever foundation and concealer,  Dior Capture Totale, Guerlain’s Aqua Allegoria fragrance collection, Benefit: They’re Real! Magnet mascara, Acqua di Parma Bergamotto La Spugnatura

Comments: Like other luxury goods brands on our Top 20 list, LVMH took a hit in 2020 as many consumers turned to sweatsuits and bare faces for Zoom calls and mask wearing. But the brand with Bernard Arnault, the world’s wealthiest man at the helm (according to Forbes), says they also showed resilience. Total revenue for 2020  fell 17%, to a still very enviable $55 billion.

Perfumes & Cosmetics reported a 23% downturn in sales to $6.4 billion. As with other brands, the road to resilience and recovery cited online sales, consumers in China, and some improvement in the U.S. and Japan. At the height of the pandemic, in addition to producing large volumes of hand sanitizer that were donated to hospitals, LVMH used certain facilities, including a Dior workshop, to manufacture masks and gowns.

In 2020, LVMH achieved their target of a 10% improvement in the Environmental Performance Index (EPI) of packaging for their Perfumes & Cosmetics businesses.

With the decline in makeup—and in global duty-free spending, LVMH’s largest brands chose to be selective in their distribution. Good resilience resulted from the growth of skincare and online sales, particularly in Asia. Christian Dior saw a gradual improvement in the second half of the year, due especially to the success of its new products Miss Dior Roses N’Roses and J’adore Infinissime perfume, and Rouge Dior in makeup. Guerlain benefited from the skincare market, with the continued success of Abeille Royale and Orchidée Impériale. The new skincare brand Fenty Skin, developed by Rihanna, is off to a great start.

In the Perfumes and Cosmetics category by region, revenues were strongest for the year in Asia (excluding Japan: 45%); followed by Europe (excluding France); then the U.S., France and Japan.

Dior saw a particularly strong uptick in sales in China. Guerlain’s Abeille Royale and Orchidée Impériale lines, backed by Guerlain’s commitment to biodiversity and sustainable innovation  also did well. In fragrances, Guerlain’s Aqua Allegoria collection achieved solid gains, as did the Maison’s Haute Parfumerie collections.

2021 Highlights

In May, Guerlain teamed with UNESCO for its “Women for Bees” program—which combines female entrepreneurship with the preservation of bees—with support from French beekeeper training center the Observatoire Français d’Apidologie. Angelina Jolie, a Guerlain muse since 2016, is the face of the program. The first promotion of women has completed a month of training to learn the theory and practice of beekeeping. On July 20 and 21, Guerlain presented its broad range of commitments to protecting biodiversity and passing on the wonders of nature to future generations.

In June, Dior announced a new face of J’adore—transgender Chinese celebrity Jin Xing, a popular dancer and former army colonel.

In July, in a move to make a splash in the UK cosmetics market, Sephora announced a deal to acquire UK e-commerce platform Feelunique (valued at £132 million) from Palamon Capital.

In August 2021, LVMH launched Fenty Eau de Parfum by Rihanna. Reportedly, the superstar’s passion for fragrance ultimately led her to Grasse, France, where she worked alongside world-renowned LVMH master perfumer Jacques Cavallier Belletrud to create the gender-neutral fragrance. The bottle was designed to fit perfectly in her hand and represents “a harmonious balance of femininity and masculinity, vintage and modern, with its curved body and beautiful amber-brown shade (Rihanna’s favorite color!).”

Looking Ahead

On the upswing, LVMH reported first half 2021 revenue of $34 billion—an increase of 56% over first half 2020. Perfumes & Cosmetics came in at $3.6 billion for the period—up 31% over first half 2020.

Bernard Arnault, chairman and CEO of LVMH, said: “LVMH has enjoyed an excellent half-year and is reaping the benefits of having continued to innovate and invest in its businesses throughout the pandemic despite being in the midst of a global crisis. The creativity, the high-quality and enduring nature of our products and the sense of responsibility that drives us, have been critical in enabling us to successfully withstand the effects of the pandemic; they will remain firmly embedded in all our Maisons, thereby ensuring their continued desirability.”

Specifically, the Perfumes & Cosmetics  group recorded organic revenue growth of 37% in the first half of 2021 compared to the same period of 2020. Organic revenue was down 3% compared to the first half of 2019. The Group’s major brands have maintained a policy of selective distribution as a means of supporting their revenues. Online sales created a large boost, partially offsetting the impact of halted international travel and the closure of brick-and-mortar. Parfums Christian Dior enjoyed a strong acceleration in its business with local customers, extending the recovery that began at the end of 2020. The continued success in iconic perfumes Sauvage, Miss Dior and J’Adore, the roll-out of Rouge Dior lipstick and the rapid progress of skincare lines Prestige and Capture contributed to the excellent performance of the Maison. Guerlain showed great results, driven by skincare, thanks especially to Abeille Royale and Orchidée Impériale. Parfums Givenchy is gaining market share due to the success of L’Interdit perfume and the relaunch of the Irresistible collection. Fresh did well in ultra-premium skincare and Maison Francis Kurkdjian continues to post exceptional growth.

LVMH plans to have six airport stores open in China by the end of 2022, highlighting its focus on China; by 2025 it expects to have a local store in every Chinese province—and its belief that airport retail will play a major role in terms of serving Chinese consumers.

Corporate Sales: $60 billion
Beauty Sales (Perfumes & Cosmetics): $7.7 billion

Major Products:

• Guerlain, Acqua di Parma, Parfums Christian Dior
• Givenchy Paris, Perfumes Loewe, Benefit Cosmetics
• Make Up For Ever, Kenzo Parfums, Fresh
• KVD Vegan Beauty, Marc Jacobs Beauty, Fenty Beauty

New Products:

• Givenchy Irresistible, Miss Dior Rose N’Roses
• Capture Totale anti-aging skin care, Fenty Skin
• KVD Shake Eyeshadow Primer, Benefit Brow Microfilling Pen
• Make Up For Ever Aqua Resist Smoky Shadow Stick

Comments: Luxury knows no limits. Net sales at LVMH Moët Hennessy Louis Vuitton, considered the world’s leading luxury products group, rose 15% in 2019, to reach $60 billion. Growth was strong in Europe and the United States, as well as Asia, which was dealing with the difficult situation in Hong Kong in the second half of 2019.

The Perfumes and Cosmetics sector rose 12% to reach $7.7 billion, attributing the success to its flagship brands, especially Dior, Guerlain and Givenchy. Skin care sales rose, due mostly to increased demand in Asia. Christian Dior continued to outpace the market. In addition to the strength of the Group’s iconic perfumes J’adore, Miss Dior and Sauvage, makeup and skin care also made significant contributions. Guerlain’s growth accelerated and the brand enjoyed excellent success with Abeille Royale in skin care and Rouge G in makeup. Parfums Givenchy achieved another year of strength thanks to its makeup and its L’Interdit perfume. Fresh, Fenty Beauty by Rihanna and Acqua di Parma also showed quickfire growth.

In the Selective Retailing business group, Sephora continued to gain market share. Growth was particularly strong in Asia and the Middle East. Online sales rose rapidly throughout the world, with an increasingly international clientele.

2020 Highlights

In February, with the economy still upbeat and relatively Covid-19 free, Sephora announced it would be opening 100 stores in North America, in 75 cities, bringing the total number of stores in the region to 600.

In March, as the coronavirus pandemic escalated, Sephora closed all retail stores in the U.S. and Canada.

At the same time, LVMH changed over three of its factories from perfume to hand sanitizer—the first beauty company to make the switch—as a philanthropic effort supporting France’s hospital system. Christian Dior, Givenchy and Guerlain manufacturing facilities began producing a hydroalcoholic gel hand sanitizer formula that was approved by French authorities as effective against the coronavirus. LVMH reportedly delivered 12 tons the first week.

The much-anticipated skin care launch from Rihanna, in partnership with Kendo Brands, an LVMH-owned beauty developer, brought the arrival of Fenty Skin in July. Fenty Skin features “clean, value-packed, multitasking products that work seamlessly with makeup and respect the planet with earth-conscious packaging and formulas.”

Second Half 2020

LVMH reported revenue of $20.7 billion in the first half of 2020, down 27% compared to the same period in 2019.

In the second quarter, as the virus shrank in Asia, China, especially, began showing an improvement in trends, with a strong rebound.

Sales of Perfumes and Cosmetics for the second half of 2020 plummeted 27% to $2.6 billion, from the first half of 2019.

Online sales grew steadily. Parfums Christian Dior maintained strong momentum for innovation with launches of Miss Dior Rose N’Roses and the new edition of Dior Homme, as well as the success of Capture Totale anti-aging skin care. Guerlain continued its rapid growth in skin care, thanks to Abeille Royale and Orchidée Impériale. Parfums Givenchy was resilient. The Fresh skin care brand did well in China.

Looking Ahead

In these uncertain times, LVMH says it will maintain a strategy focused on preserving the value of its brands, based on the exceptional quality of its products and the responsiveness of its teams. Additionally, “the impact of the epidemic on revenue and annual results cannot be precisely assessed at this stage without knowing the timetable for the return to normal business in the different areas where the Group operates. After a second quarter severely affected by the crisis, we can hope that the recovery will materialize gradually in the second half.”

In late September, Sephora announced the launch of four new “green” labels: Good For You, Good For A Better Planet, Good For Vegan and Good For Recycling.

Corporate Sales: $52.6 billion
Beauty (Perfumes & Cosmetics) Sales: $6.9 billion

Major Products/Brands:  
Luxury Perfumes and Cosmetics, including:

• Guerlain, Acqua di Parma, Parfums Christian Dior
• Givenchy Paris, Maison Francis Kurkdjian, Perfumes Loewe
• Benefit Cosmetics, Make Up For Ever, Kenzo Parfums
• Fresh, Kat Von D Beauty, Marc Jacobs Beauty
• Fenty Beauty by Rihanna, Sephora

New Products:

• Christian Dior Joy by Dior, Dior Ultra Rouge lipstick
• Dior Backstage Face & Body, Guerlain Rouge G makeup
• Givenchy L’Interdit, Kenzo Badgal Bang! Mascara
• Fresh Black Tea Kombucha age-delay facial essence, Fenty Mattemoiselle lipstick
• Marc Jacobs Beauty Shameless liquid foundation

Comments: Driven by consumers’ lust for luxury, LVMH rose to new heights in 2018, topping $52 billion in total corporate sales, a 10% boost over the previous year. Performance was attributed to all sectors and all regions, but Asia and the United States, in particular, saw strong growth, according to Bernard Arnault, chairman and chief executive officer. Perfumes & Cosmetics contributed 13% of 2018 revenue—$6.9 billion. By product category, Makeup was the strongest, with 47% of revenues, followed by Perfumes (35%) and Skincare products (18%). 18% of LVMH’s 156,000-plus employees work within the sector.

LVMH reported “strong progress of flagship brands and rapid progress in Asia.” Parfums Christian Dior experienced “remarkable growth and increased its market share in all regions of the world.” The brand’s new perfume Joy and the widespread success of Sauvage, plus J’adore and Miss Dior all were strong contributors. Makeup and Skincare also picked up the pace.

Guerlain made great strides with Abeille Royale in skincare and Rouge G in makeup. Benefit strengthened its top position in the eyebrow segment and Parfums Givenchy moved ahead, thanks in particular to makeup and its new perfume L’Interdit. Fresh and Fenty Beauty by Rihanna continued on a growth trajectory.

2018 also proved to be another year of strong growth for Sephora—especially in North America, Asia and the Middle East—and gained market share. Sephora has more than 1,900 stores and 29 online shops, and is present in 34 countries. It was named Retailer of the Year at the 2018 World Retail Congress.

One example of LVMH’s sustainability initiatives as far as packaging is Parfums Christian Dior. The weight and volume of packaging used for the new Diorskin Nude box and foundations in the Backstage range was reduced considerably in 2018, according to an LVMH report. The transformation of the brand’s skincare packaging also continued, with thinner cases made from FSC-certified card introduced for the Capture Youth range.

2019 Highlights

Kicking off the year, Jean-André Rougeot, the CEO of Benefit Cosmetics for 12 years, was named chief executive officer of Sephora Americas. He reports to Sephora’s global president and CEO Christopher de Lapuente. During Rougeot’s time at Benefit, sales reportedly passed the $1.5 billion mark.

In June, LVMH chairman and CEO Bernard Arnault joined Amazon and Microsoft founders to become the third person to amass a personal fortune of $100 billion, according to a report published by Money and Markets.

Later in the year, rumors swirled around the possibility that LVMH had proposed a buyout of its prestige competitor Chanel, who denied that any talks had taken place.

First Half 2019

For the first half 2019, LVMH reported revenues of $28.5 billion euro, up 15% over the previous year, and with particularly strong growth in the U.S., Asia and Europe (sales in France saw a rebound in the second quarter).

Perfumes & Cosmetics rose 9% (organic). Within the category, flagship brands continued to rise, with Parfums Christian Dior maintaining “strong momentum” driven by the ongoing strength of perfumes and the “rapid progress” of its makeup and skincare lines. Guerlain’s Rouge G lipstick and the Abeille Royale skincare range were cited for a strong year, and the company’s launch of its first digital transparency and product traceability platform was named among the first half highlights. Givenchy, Benefit and Fresh were also called out for their success.

Corporate Sales: $51 billion

Beauty Sales (Perfumes & Cosmetics): $6.7 billion (FY 2017 Beauty Sales: $5.2 billion)

Major Products/Brands: Luxury perfumes and cosmetics from brands including:

• Guerlain, Acqua di Parma, Parfums Christian Dior,
• Givenchy Paris, Perfumes Loewe, Benefit Cosmetics,
• Make Up For Ever, Fenty Beauty, Kenzo Parfums,
• Fresh, Kat Von D Beauty, Marc Jacobs Beauty; Sephora, DFS
• Maison Francis Kurkdjian

New Products:

• Joy by Dior
• Fenty Beauty by Rihanna
• Sauvage Very Cool Spray
• Dior Hydra Life skincare
• Dior Lip Sugar Scrub
• Guerlain Abeille Royale Micro-Huile de Rose
• Make Up For Ever Water Blend foundation
• Artist Face Color blush, Acqua di Parma Colonia Pura

Sales Rise for LVMH Beauty Brands

Even in an uncertain economy, one thing remains clear: Luxury and prestige goods continue to capture consumer spending around the world. At the heart of desire is LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, which recorded another record year: $51 billion in 2017 corporate net sales—an increase of 13% over the previous year.

The purveyor of wines, spirits, fashion, leather goods and, of course, cosmetics and fragrances, saw double-digit organic growth in all categories except for Wines and Spirits, due to supply constraints.

Sales of Perfumes and Cosmetics reached $6.7 billion, up 12% from the previous year. Strong momentum was recorded at Parfums Christian Dior, due to “successful product innovations,” and growth at Sephora, which LVMH says enabled the retailer to strengthen its positions in all its markets and in digital. Rapid growth in Asia was also key.

Parfums Christian Dior grew market share in all regions, driven by the success of its fragrance Sauvage and of its iconic perfumes J’adore and Miss Dior. The makeup segment also grew strongly, thanks to Rouge Dior and Dior Addict lines. Guerlain sales rose with the successful launch of Mon Guerlain and the international roll-out of Guerlain Parfumeur boutiques. Parfums Givenchy had a very good year, due especially to makeup, while Benefit gained with its Brow Collection. Fenty Beauty by Rihanna, which launched worldwide exclusively at Sephora, is “enjoying exceptional success.”

First Half 2018

LVMH recorded revenue of $25.4 billion in the first half of 2018, an increase of around 10%. The U.S., Asia and Europe reported good growth. Highlights of the first half of 2018 included success of new products at Christian Dior across all product lines, Sephora’s strong revenue growth in stores and online, and a rebound of profitability at DFS.

In Perfumes & Cosmetics, all brands contributed to strong growth with rapid progress in Asia.

The Perfumes & Cosmetics business group posted sales of $3.35 billion. Christian Dior had great success with its iconic fragrances J’adore and Miss Dior, and with Sauvage. Makeup and skincare rose strongly. Guerlain’s iconic Rouge G lipstick and its skincare line, Abeille Royale were greatly successful. Parfums Givenchy maintained its rapid growth in makeup. Benefit successfully enhanced its mascara range and its brow collection. Fresh, Fenty Beauty and Acqua di Parma all grew strongly. Momentum at Kenzo Parfums was driven by the women’s fragrance lines FlowerbyKenzo and Kenzo World.

Corporate Sales: $39.6 billion
Beauty Sales (Perfumes & Cosmetics): $5.2 billion

Major Products/Brands: Perfumes and Cosmetics brands including Guerlain, Acqua de Parma, Parfums Christian Dior, Givenchy Parfums, Perfumes Loewe, Benefit Cosmetics, Make Up For Ever, Kenzo Parfums, Fresh, Maison Francis Kurkdjian.

New Products:  Mon Guerlain, Christian Dior Poison Girl, Benefit-Brow Collection, La Petite Robe Noir makeup collection, Maison Francis Kurkdjian, Aqua Celestia

Comments: Even in a world with certain crippled economies, unfavorable exchange rates, and younger consumers who theoretically have less desire to spend on “things” rather than “experiences,” luxe apparently knows no limits. Luxury products group LVMH Moët Hennessy Louis Vuitton recorded across-the-board revenue of $39.6 billion in 2016, an increase of 5% over the previous year. Boosted by new fragrances and cosmetic line extensions, the Perfumes & Cosmetics division topped out at $5.2 billion.

Revenue in the fourth quarter increased by 9% year on year. The company reported that the American market remains strong as does Europe. Asia, excluding Japan, continued its positive momentum.

Bernard Arnault, chairman and CEO, said: “LVMH achieved an excellent performance in 2016 within a context of geopolitical and economic instability…  In an environment which remains uncertain, we can count on the appeal of our brands and the agility of our teams to strengthen, once again in 2017, our leadership in the universe of high-quality products.”

Key highlights from 2016 in the Perfumes & Cosmetics business group included good momentum at Parfums Christian Dior, driven by successful product innovations; and growth at Sephora, which strengthened its position in all its markets and in digital.

The Perfumes & Cosmetics business group inaugurated a new atelier for the creation of fragrances; Les Fontaines Parfumées, at Grasse was called “a highlight of the year.” Parfums Christian Dior grew market share in all regions, driven by the global success of Sauvage and of its perfumes J’adore and Miss Dior. Sales of makeup also contributed to the brand’s excellent performance. Guerlain succeeded with its new makeup collection inspired by its fragrance La Petite Robe Noire. Benefit experienced strong growth driven by the success of its new collection for eyebrows. Make Up For Ever, Fresh and Kat Von D all performed well.

In the Selective Retailing business group, Sephora gained market share across all regions and once again recorded double-digit growth in both revenue and profits. More than 100 doors were opened in 2016 including a flagship store in the World Trade Center in New York.

2017 News of Note

In the new year, LVMH continued its emphasis on fragrance, striking deals and naming influential global ambassadors.

At the end of January, the House of Dior revealed Poison Girl EDT, described as “a bittersweet floral” composed by Dior perfumer-creator François Demachy.

Guerlain launched a global women’s scent, Mon Guerlain, worldwide, on March 1. Laurent Boillot, chairman and CEO of the brand, said “We are entering a new cycle for Guerlain, which has success with La Petite Robe Noire fragrance, Orchidée Impériale skin care and a new factory. “It’s time for Guerlain to go even more international,” he continued, adding, “now is also a moment for the label to focus further on perfume.”

A key element for building awareness is the scent itself. Mon Guerlain’s juice was conceived by Guerlain master perfumer Thierry Wasser and Delphine Jelk. Boillot noted: “The fragrance is inspired by a woman with different facets, and so, Angelina Jolie was chosen as the scent’s muse and its face.”

When it came to the packaging of Mon Guerlain, corporate executives dug into the brand’s archives and chose a streamlined flacon with a quadrilobe stopper dating from 1908. “It’s so modern because of the pure lines, the pure design,” said Boillot of the bottle, which has the name “Guerlain” appearing directly on it; there is no label.
“We never invested so much in a fragrance [launch],” said Boillot, without providing numbers.

Jolie is donating her salary for the Guerlain advertising campaign to charity.

Looking Ahead

Fine tastes grew frenetically faster than ever in the first half of 2017, it seems, as the French luxury giant posted total revenues of $22.5 billion, an increase of 15%. All geographic areas continued to do well. During the period, LVMH acknowledged benefiting from a favorable comparison base, particularly in Asia but also in France, where activity was impacted last year by a decline in tourism.

Success of the new products at Christian Dior and the continued strengthening of Sephora’s omni-channel strategy were credited with boosting the bottom line in Perfumes & Cosmetics, which reached $2.7 billion for the period.

J’adore and Miss Dior, Sauvage, Mon Guerlain, Parfums Givenchy makeup and Benefit’s Brow Collection were of special note as first-half success stories.

Corporate Sales: $39 billion
Beauty Sales: $5 billion

Major Products/Brands: Parfums Christian Dior, Christian Dior, Guerlain, Givenchy, Parfums Givenchy, Louis Vuitton (fragrances), Fendi, Bvlgari, Kenzo, Benefit, Fresh, Acqua di Parma, Parfums Loewe and Make Up For Ever, Sephora, Parfums Loewe, DKNY, Marc Jacobs, Fresh, Nude Skincare.

New Products: Dior Sauvage, J’Adore Touche de Parfum, Féve Délicieuse (part of La Collections Privée Christian Dior), Dior Addict Lipstick, Nude Air Serum Foundation, Prestige La Cure; Givenchy Live Irrésistible; Flower by Kenzo; Guerlain Muget 2015, Guerlain Mon Exclusif; Benefit Roller Lash, Puff Off; Make Up For Ever Ultra HD and Step 1 foundations.

Comments: In a year described as robust, LVMH’s perfume and cosmetics unit represented 13% of the company’s overall revenue by business group. Keeping an ever tighter eye on its environmental initiatives, the company also reported that its perfumes and cosmetics segment accounted for just 9% of its overall corporate energy consumption.

LVMH’s 2015 perfume and cosmetics revenue of $5 billion was a tidy boost over the company’s 2014 $4.4 billion beauty profits. In terms of revenue as generated by profit category for its beauty unit, the company reported that its perfumes edged out makeup as the most lucrative sellers (41% and 40%, respectively), with skin care rounding out the remaining revenue share (19%). The company’s No. 1 geographic market for revenue in 2015 was Asia (excluding Japan), followed by Europe. The U.S. was the company’s fourth largest market.

In noteworthy 2015 new product news, Parfums Christian Dior enjoyed enormous success with the global launch of Sauvage, a new fragrance for men fronted by actor Johnny Depp.

In February 2015, Guerlain opened a new skin care and makeup manufacturing facility dubbed “La Ruche” in Chartres, France. The company said the new facility, which is responsible for the global production of Guerlain skin care and makeup (75% of which is destined for export) is already supporting the brand’s expansion by helping to showcase environmental and social engagement.

News of Note in 2016

Earlier this year, Louis Vuitton announced it was developing its first fragrance in 70 years; the launch spans a collection of seven flower-based fragrances for women. Created at the new Louis Vuitton lab in Grasse, the juices are produced via a special CO2 extraction process that preserves the freshness of the floral notes. The packaging, designed by Marc Newson, is comprised of elegantly simple, refillable round bottles, embellished with a gold LV monogram, and black stopper caps instead of pumps.

Looking Ahead

In July, the company announced it had entered into an agreement to sell Donna Karan International to G-III for $650 million. The deal is expected to close in late 2016 or early 2017.

Going into 2016 and beyond, LVMH reported that Guerlain has undertaken an “intensive innovation plan for all of its product categories,” one consequence of which will be a makeup offshoot of La Petite Robe Noire. Guerlain will also open its first fragrances-only shop in January. Parfums Givenchy will develop its cosmetics offering, expand on its existing perfumes with new scent versions, and add to its Live Irrésistible product line. As for the company’s other beauty and fragrance lines, LVMH stated Kenzo Parfums would launch a new product line in keeping with the spirit of the fashion house in “a few strategic countries.”

Corporate Sales: $37.2 billion
Beauty Sales: $4.7 billion (Perfumes & Cosmetics)

Major Products: Prestige perfume, makeup and skin care sold under brands including Christian Dior, Guerlain, Givenchy, Kenzo, Benefit, Fresh, Acqua di Parma, Make Up For Ever, Parfums Loewe, Fendi, Pucci, Sephora.

New Products: Dior Sauvage, Dior Addict Fluid Stick, Guerlain Abeille Royale, Parfums Givenchy Gentlemen Only and Dahlia Divin, Guerlain L’Homme Ideal, Kenzo Jeu d’Amour, Dior One Essential City Defense SPF 50, Benefit Air Patrol, Benefit They’re Real! Push-Up Eyeliner, Miss Dior Moisturizing Body Milk, Miss Dior Blooming Bouquet, Fresh Sugar Fig Lip Treatment.

Comments: Despite a somewhat questionable economy, consumers’ penchant for luxury goods—and travel—continues to pay out for LVMH. Sales that combine the two have been lifted due to frequent fliers picking up high-end personal products for themselves as well as to take home to friends and family left behind. And top-tier fragrances remain vital to European consumers—good news for LVMH’s numerous prestige designer scents.

Sales of perfumes and cosmetics rose 5%, compared to a 6% gain for the company overall. The Group achieved healthy gains in the U.S. and Asia (particularly China) and was boosted by top-tier performances from Christian Dior, Benefit and Guerlain. As far as overall business in the Perfumes & Cosmetics category, fragrance delivered 43% of sales, followed by makeup (39%) and skin care (18%). Europe (excluding France) represented 30% of sales, with Asia (excluding Japan) accounting for 26% of sales. At Parfums Christian Dior, gains were made in every key market, thanks to strong demand for J’adore, Miss Dior and Dior Homme fragrances, as well as higher skin care sales in Asia.

Guerlain’s sales also rose, and the brand gained market share in France and China. The high-profile launch of L’Homme Idéal helped boost the brand in key markets. Parfums Givenchy’s results were helped along by the debut of Gentlemen Only and Dahlia Divin fragrances, while Kenzo Parfums saw gains from the introduction of Jeu d’Amour.

The makeup segment also achieved excellent results thanks to products including Dior Addict Fluid Stick and Guerlain’s high-end skin care range Abeille Royale. Benefit continued its strong global growth momentum and is ranked as the leading makeup brand in the UK. Fresh and Make Up For Ever continued to gain market share.

News of Note

In February, Guerlain continued its focus on cosmetics, opening a new skin care and makeup production facility in Chartres, France, which is also known as “Cosmetic Valley.” The high-tech plant is expected to produce millions of export units.

In August, Sephora took a new retail step, announcing the launch of a $10 per month subscription box called Play! by Sephora. A limited amount of subscriptions became available in select markets in September, with a full national launch scheduled for early 2016. Each box is curated around a specific theme, and contains five, high-performance, deluxe-size, prestige products.

Looking Ahead

LVMH was off to an even better start in 2015, as many brands continued to gain market share. As a group, in the second quarter, revenue increased by 23% compared to the same period in 2014.

For the first half, the Perfumes & Cosmetics business group recorded organic revenue growth of 6%. Again, Dior’s iconic lines J’adore and Miss Dior continued to wow consumers, and a new men’s fragrance, Sauvage, launched this fall, with Johnny Depp in his first role as the “face” of a fragrance. Guerlain’s La Petite Robe Noire and Abeille Royale continued their allure. And when it came to cosmetics, Benefit, Make Up For Ever and Fresh exhibited excellent sales. “Remarkable momentum” was reported at Sephora, which continues to build its position  in the beauty world, both in stores and online.

Corporate Sales: $40 billion
Beauty Sales: $5.1 billion

Major Products: Perfumes, cosmetics and skin care brands including Christian Dior, Guerlain, Givenchy, Kenzo, Benefit, Fresh, Make Up For Ever, Acqua di Parma, Parfums Loewe, Fendi and Pucci—and LVMH’s DFS travel retail network, which includes Sephora.

New Products: Diorskin Nude BB Créme, Dior Addict Fluid Stick, Parfums Givenchy Dahlia Divin, Kenzo Parfums Flower in the Air, Fan di Fendi pour Homme, Benefit Cosmetics POREfessional, Benefit They’re Real Push-Up Liner, Sephora Collection: The Beauty of Giving Back Blush Palette, Abeille Royale skin care, Chinese skincare brand Marubi.

Comments: A challenging economy didn’t put much of a damper on luxury goods. Thanks to the continued allure of “the finer things” to global consumers in developing as well as developed markets, corporate sales at LVMH hit a new high of $40 billion in 2013, a 4% jump over the previous year.

In its major stance as purveyor of a mostly French portfolio of French beauty brands with international presence—as well as a couple of promising U.S. and Spanish brands—sales of cosmetics and fragrances outperformed the market, rising nearly 3% last year. Perfumes accounted for 45% of sales (down from 48% in 2012), followed by cosmetics (37%) and skincare products (18%). By region, Europe (excluding France) accounted for 32% of sales, followed by Asia (excluding Japan; 24%), other markets (14%), France (13%), U.S. (12%) and Japan (5%).

Parfums Christian Dior continued to gain market share, with flagship lines including J’adore, Dior Homme, Rouge Dior and the development of Dior Prestige skincare. La Petite Robe Noire from Guerlain also continued to grow, as did Orchidée imperial skincare. U.S. based Benefit recorded another year of strong growth and Make Up For Ever and Fresh both did particularly well in Asia.

Benefit has reportedly tripled its business in the last five years and is poised to hit $2 billion annually in the next five years.

To advance R&D, LVMH opened its new Hélios research center at Saint-Jean-de Braye during the year. The 250 researchers at Hélios are working on developing new processes, and securing new patents in the fields of cosmetics and the beauty sciences. In retail, the luxury seller reopened Guerlain’s boutique on the Champs-Elysées in Paris.

In July 2013, following nearly three years of negotiations, LVMH-backed private equity fund L Capital Asia announced its plan to invest in Chinese domestic cosmetics brand Marubi, which LVMH hopes to propel into the global spotlight with a possible Dior partnership and Sephora distribution.

Selective Retailing

Travel retail and selective retail played strong roles in increasing sales of perfumes and cosmetics. The company’s Selective Retailing business group recorded organic revenue growth of 17% in 2013. DFS Group, an operator of duty-free shops controlled by LVMH, continued to grow, due especially to three new upgraded concessions at Hong Kong International Airport. Hong Kong and Macau maintained strong momentum even though the weak Yen reduced Japanese travellers’ spending, especially in Hawaii.

Sephora continued to achieve what Arnaud called “an exceptional performance” and gained market share in all of its regions. The retailer’s online revenue also did well. Arnaud said that innovation, increased personalization of customer relations, and strengthening of service offerings, both in store and online, are at the core of Sephora’s strategy. Sephora’s exclusive offering was boosted in particular by the new Marc Jacobs cosmetics line.

First Half 2014

For the first half of 2014, LVMH recorded revenue of $19 billion, an increase of 3% over the previous year. The Group continued to grow in the U.S. and Asia. Europe showed some resilience despite a still challenging economy. Regional results in the second quarter were similar to trends in the first quarter, except in Japan, which had been stronger during the first quarter.

Perfumes & Cosmetics rose 2% over the previous first half in 2013, to reach $2.5 billion.

Moving ahead, LVMH has vowed to remain strong in R&D, build upon key brands such as Christian Dior and Guerlain, and continue global development of other brands.

Just last month, Sephora Americas announced the opening of its new, state-of-the-art distribution center in Perryman, MD. The 655,000-square-foot Mid-Atlantic Distribution Center facility will be the largest distribution center serving Sephora Americas.

Corporate Sales: $ 37.1 billion
Beauty Sales: $4.8 billion

Dior’s packaging (from Axilone) for Capture Totale, is a highly technical, patented luxury package with a unique refill replacement.

Major Products: Prestige fragrance and cosmetics brands including Christian Dior, Guerlain, Givenchy, Kenzo, Benefit, Fresh, Make Up For Ever, Acqua di Parma, Nude, Fendi, Bulgari and Pucci; Sephora.

New Products: Dior Mystic Metallics, Miss Dior Le Parfum, Guerlain Meteorites Perles du Paradis Sparkling Illuminating Powder, La Petite Robe Noire fragrance, Nude Perfect Cleansing Oil, Parfums Givenchy Dahlia Noir fragrance, Givenchy Noir Couture Mascara, Make Up For Ever Pro Finish Foundation.

Comments: Seems consumers just can’t get enough of the finer things in life. In an economy that many still say is suffering—or recovering—the allure of luxury items—both large and small—drove 2012 annual sales at LVMH Moët Hennessy to new levels. The world’s leading luxury products group recorded revenue of $37.1 billion in 2012—a whopping increase of 19% compared to 2011.

Perfumes and cosmetics, which account for 13% of the business, rang up sales of $4.8 billion.

LVMH chairman Bernard Arnault said Parfums Christian Dior saw excellent performance in 2012, driven by flagship lines such as Miss Dior and J’adore.

By product category, perfume accounted for 48% of sales, followed by cosmetics (35%) and skin care (17%). By region, Europe (excluding France) accounted for 33% of sales; followed by Asia (excluding Japan), 22%; other markets, 14%; France, 13%; U.S., 12% and Japan, 6%.

Bernard Arnault, chairman and CEO of LVMH, said: “2012 was another remarkable year for LVMH, especially in the context of the economic slowdown in Europe. All of our businesses demonstrated excellent momentum driven by innovation and the quality of their products, thereby strengthening their positions in traditional markets while continuing to develop in new ones. Looking beyond the appeal of our brands, it is the talent of our teams and their motivation that enables us to so effectively execute our strategy.”

Parfums Christian Dior saw excellent performance driven by flagship lines, notably Miss Dior and J’adore. Dior Addict Lipstick continued to attract consumers in its main markets and the skin care line called Prestige continued to gain ground. Guerlain’s new fragrance La Petite Robe Noire took an upward spin. Parfums Givenchy’s makeup line owed part of its success to its mascara Noir Couture. Benefit, Make Up For Ever and Fresh also continued their strong climbs.

The Selective Retailing business group recorded organic revenue growth of 14% in 2012, with Asian customers key to success. Three major concessions were won in 2012 at Hong Kong Airport and the concession at Los Angeles Airport was renewed. The opening in Hong Kong of a third Galleria was also a highlight of the year. Sephora continued to achieve an excellent level of performance and made market share gains across all its regions. Online revenue also grew strongly. In Europe, new stores opened for the first time in Denmark and Sweden. In the U.S., the renovation of several flagship stores in New York strengthened the appeal of the brand. Sephora continued its expansion in China while also renovating existing stores. Its first stores were opened in the high potential markets of Brazil and India. Sephora plans to roll out at least 50 stores in Latin America by 2016. The French beauty retailer also opened a store in India.

Mid-year 2013, Parfums Christian Dior signed actor Robert Pattinson as the new face of Dior Homme fragrance.

The first half of 2013 also proved to be good for LVMH, which posted recorded revenue of $17.8 billion, an increase of 6%.

The Perfumes & Cosmetics segment was up about 4% over the same period last year, reaching $2.3 billion. Parfums Christian Dior maintained good momentum, supported by its perfumes, including Miss Dior and J’Adore with Voile de Parfum. The makeup segment also made significant progress. Guerlain benefited from the continuing success of La Petite Robe Noire. Parfums Givenchy did well with its makeup line. Benefit and Fresh experienced rapid international development.

Duty-free shopping benefited from strong growth due to Asian clientele. The new concessions won in late 2012 in the Hong Kong airport made a major contribution to the increase in revenue.

Despite an uncertain European economic environment, Arnault said LVMH will continue to gain market share with numerous product launches planned before the end of the year, as well as its geographic expansion in promising markets, while continuing to manage costs.

Corporate Sales: $30.6 billion
Beauty Sales: $4.1 (perfumes & cosmetics)

Benefit maintains a high growth level at LVMH; in 2011, it made a successful debut in Brazil.

Major Products: Perfume, makeup and skincare brands, including Christian Dior, Guerlain, Givenchy, Kenzo, Benefit, Fresh, Acqua di Parma, Makeup Forever, Parfums Loewe, Fendi, Nude—and Sephora stores.

New Products: Diorskin Nude Foundation, J’adore Creamy Shower Gel, Dior Eau Savage, Guerlain Super Aqua-Mask, Vetiver Deodorant Stick, Guerlain Homme Deodorant Stick; Kenzo Flower Tag Eau de Parfum; Benefit Cosmetics Watt’s Up, Benefit Sexy Little Stowaways, Nude ProGenius.

Comments: LVMH reaped the benefits of the continued demand for luxury items, including timeless classics, with a nearly 16% increase in revenue to nearly $31 billion. For the first time, profits were recorded at more than $6.5 billion. All business groups enjoyed success across Europe, in Asia and in the U.S. Sales of perfumes and cosmetics—which accounts for 13% of corporate revenue—rose 4% last year to over $4 billion. In 2011, the company added luxury goods manufacturer Bulgari to its portfolio.

Within the perfumes and cosmetics business, fragrance accounted for 49% of sales, followed by cosmetics at 34% and skin care products at 17%. By region, Europe (excluding France) accounted for 37% of sales, followed by Asia (excluding Japan), 22%; other markets, 16%; France, 10%; U.S., 9%; and Japan, 6%. All of the brands played a part in the strong momentum of the Asian and American markets. Europe, too, despite economic problems, contributed to growth.

By brand, the Parfums Christian Dior brand continued to excel, led by strong demand for J’adore, which was once again the leading female perfume in France in 2011, as well as the record-setting launch of Dior Addict lipstick. Guerlain sales were boosted by demand for Shalimar as well as the success of Orchidée Impériale.

Guerlain expanded its distribution by opening new boutiques in France, the Middle East and China. At Parfums Givenchy, the new women’s fragrance, Dahlia Noir, which launched in the second half of the year, enjoyed a promising start. Benefit made a very successful debut in Brazil.

Not content to rely on its bestsellers, LVMH continues to focus on R&D, and late in 2011 broke ground on a new research facility called Helios. The Group also invested heavily in advertising to fuel sales.

And the good news continues to flow in 2012. For the first half of this year, the company reported revenue of $16.3 billion, an increase of 26%—even more significant when heaped on top of the strong growth in the same period in 2011. Growth continued in the U.S., Europe and Asia. Perfumes & Cosmetics achieved double-digit growth of 14% over first-half 2011, ringing up almost $2.2 billion in sales. Christian Dior continued to perform well both with its iconic products and growth of fragrances J’adore, Miss Dior and Dior Homme. The makeup and skincare segments also did well. Guerlain’s successful La Petite Robe Noire launched in France in the first half. Givenchy’s growth was attributed to the perfume Very Irresistible. Benefit and Make Up For Ever maintained a high level of growth.

In January, news of a new fragrance from LVMH was reported, and it was announced that master perfumer Jacques Cavallier-Belletrud would shepherd the project. No launch date was given, but Vuitton said it plans to distribute fragrances exclusively in its own boutiques. It is the first perfume from the company since it retailed three perfumes in the ’20s and ’30s, all of which were later discontinued.

Early this month came word that the Queen of England had approved an honorary award to make Arnault a Knight Commander of the Most Excellent Order of the British Empire. He received the award for “services to business and the wider community in the UK.”

Beauty Sales: $4 billion
Corporate Sales: $20 billion

Major Beauty Brands/Products: Guerlain fragrance sales contributed to a profitable year at LVMH.

Dior, Guerlain, Parfums Givenchy, Kenzo Parfums, Benefit Cosmetics, Fresh, Make Up For Ever, Edun, Parfums Loewe, Ole Henriksen, Acqua di Parma, Emilio Pucci Parfums, Fendi Parfums, Sephora beauty stores, House of Fendi.

New Products: Dior Blue Tie Collection, Hypnotic Poison, Miss Dior, Benefit Ring My Bella eau de toilette, L’Instant de Guerlain, Guerlain’s Meteorites Collection, Givenchy Very Irresistible L’Intense.

Comments: Luxury proved to be alive and thriving at LVMH, where 2010 total sales rang up at more than $20 billion, a 19% growth over the previous year. Asia (excluding Japan) led with demand for premium goods, accounting for 25% of sales, followed by Europe (excluding France; 21%), U.S. (23%), France (13%), Japan (9%) and Other markets (9%).

Fragrance and cosmetics sales reached $4 billion, up about 12% over the previous year. Growth continued in the beauty category due to a number of new launches and, in particular, the global allure of Parfums Christian Dior and its iconic fragrances, such as J’adore, Poison and Eau Sauvage, while also focusing on new innovations. In addition to Dior, Bernard Arnault, chairman and chief executive officer, also gave a nod to Guerlain, Givenchy, Make Up For Ever and Benefit as major contributors to the year’s success.

The new Rouge Dior lipstick range and the Capture skin care line also achieved strong results. Guerlain boosted sales with its new Idylle fragrance, as well as with Shalimar, and its Orchidée Impériale skin care line. The new Play for Her feminine fragrance from Parfums Givenchy proved to be very popular. Benefit and Make Up For Ever continued to gain global ground.

Sephora gained market share in all regions. At the close of the year, there were 1,070 Sephora stores. Expansion was strong in Latin America (particularly Brazil and Mexico), as well as in online sales.

The demand for luxury continued at LVMH during the first half of 2011. Total revenue was reported at $14.8 billion, up 13% over the previous year. All business groups contributed to this success.

Revenue for Perfumes & Cosmetics reached $2.2 billion, an increase of 5% over the same period in the previous year.

Nicholas Munafo was named president of the LVMH Fragrance Brands division, a new position based in New York.

An agreement was reached with the Bulgari family to strengthen the long-term growth of the famous Italian design house.

Continued strong growth at Christian Dior and Sephora were noted. Dior’s fragrances, notably Miss Dior and J’adore, as well as the success of the new lipstick line Dior Addict bolstered Dior’s standing in makeup, and skin care benefited from the success of Capture. Guerlain’s successful launch of Shalimar Parfum Initial and the rapid growth of its impressive skin care product, Orchidée Impériale added significant revenue. Givenchy drew sales from the perfume Play in both the men and women’s versions. Benefit continued on its global growth path.

Sephora continued to develop its vast network of stores. In Russia, the beauty retailer increased its holding in the Ile de Beauté brand to 65%.

In February 2011, LVMH acquired the Nude skin care line and Ole Henriksen. Sephora collaborated with The Body Shop, which developed exclusive, natural and eco-minded skin care and body care items for Sephora.

In March, Christopher de Lapuente, a former P&G executive, who most recently served as group president for global hair care, became global president and chief executive officer of Sephora, succeeding Jacques Lévy, who retired.

Beauty Sales: $3.9 billion (Perfumes and Cosmetics)
Corporate Sales: $24.4 billion

Major Products: Fragrances, cosmetics and skin care products sold under brand names such as Christian Dior, Acqua di Parma, Guerlain, Parfums Givenchy, Parfums Kenzo, Parfums Loewe, Fresh, Make Up For Ever, Benefit and Sephora.

LVMH’s acquisition of Sack’s is leading Sephora into Brazil in a big way.

New Products: Fragrances—Idylle, Ange ou Démon Le Secret, Eat, Pray, Love, FlowerbyKenzo Essentielle, Crescent Row, Play for Men; Skin care—Abeille Royale, Capture Totale One Essential serum, Instant Rescue Eye Treatment, XP Nuit; Cosmetics—Dior Sérum de Rouge, Dior 5 Couleurs, Rouge G lipstick, Phenomen’Eyes mascara, Hello Flawless foundation.

Comments: LVMH’s divisions fared differently in 2009. Wines & Spirits and Watches and Jewelry brands bore a great deal of the brunt of fallen sales in 2009 due to destocking, but Louis Vuitton registered double-digit global growth and progress in all of its product categories. While Fragrance and Cosmetics sales dipped 4.4% last year, LVMH increased profit and market share during the downturn. By region, Europe (excluding France) accounted for 39% of sales, followed by France, 17%; Asia (excluding Japan), 16%; other, 13%; U.S., 8% and Japan, 7%. By category, perfumes represented 53% of sales, followed by cosmetics, 28% and skin care products, 19%.

Sephora continued to expand globally. Parfums Christian Dior continued its success with its iconic lines including Miss Dior, J’adore and Eau Sauvage, along with its innovations in skin care and makeup. Make Up For Ever continued at an enviable growth rate in the U.S., France and China.

By the fourth quarter, Perfumes and Cosmetics had returned to growth with organic revenue increasing by 2%, following the impact of destocking by several retailers in the first half. Guerlain did well, due notably to the popularity of the Rouge G lipstick and its new perfume, Idylle. Parfums Givenchy benefited from the success of its Play and Ange ou Démon Le Secret perfumes. Benefit made considerable progress due to its international expansion.

In July, Bernard Arnault, chairman and chief executive officer, reported, “The first half of 2010 has confirmed the rebound seen at the end of last year, leading to double-digit organic revenue growth at all our business groups and a strong improvement in our results.” For the first half of 2010, corporate sales reached $11.1 billion. Perfume and cosmetic sales increased 10% to $1.8 billion.

LVMH’s Perfumes and Cosmetics business benefited from the joint impact of the turnaround in orders from distributors. Sales were highest in Rest of Asia, followed by the U.S., rest of Europe, France and Japan. The increase was partially attributed to the popularity of Fahrenheit and Miss Dior Chérie fragrances, Capture Totale One Essential skin care and DiorShow Extase mascara.

Parfums Christian Dior achieved an excellent performance in the first half, confirming its leadership position in Europe and the Middle East and achieving rising growth in the makeup segment in the U.S. Guerlain also did well, strengthening its position in perfume, makeup and skin care. Parfums Givenchy grew significantly, and Play performed well thanks to Justin Timberlake. Benefit continued its rapid and profitable expansion. Make Up For Ever maintained its high growth in all markets.

In July, LVMH announced an agreement to acquire a 70% controlling stake in Sack’s, a leading online retailer of fragrances, cosmetics and toiletries and one of the leading companies in the specialty beauty distribution sector in Brazil, marking Sephora’s entry into one of the largest and fastest-growing beauty markets worldwide.

Big plans surround the rest of the year for all the Perfumes and Cosmetics brands. Parfums Givenchy has introduced a version of the perfume Play for women. Make Up For Ever will reveal a new line of lipsticks. Fendi will return to perfume with Fan di Fendi. Pucci will also boast a new fragrance.

Beauty Sales: $3.7 billion (perfumes and cosmetics; excluding Sephora)
Corporate Sales: $22 billion

New Products: Guerlain–Secrets de Sophie, Idylle; Givenchy—Play, Play Intense and Very Irresistible fragrances. Dior—Escale à Portofino Miss Dior Chérie L’Eau, Diorskin Nude. Kenzo—Belle de Jour.

Comments: LVMH Moët Hennessy Louis Vuitton sailed through the recession unhindered, in fact, with new wind in its sails. In February, the world’s leading luxury products group recorded overall revenue of $22 billion in 2008, an increase of 4% over the previous year. Part of the success was attributed to excellent performance of Perfumes & Cosmetics, led by Christian Dior and Sephora.

In the fourth quarter, reported revenue was $6.7 billion, an increase of 4%.

Sales of perfumes and cosmetics rose 5% in 2008, over the previous year, to $3.7 billion. Profits reached $429 million. Christian Dior continued to win market share, with J’Adore and Dior Homme Sport contributing to the brand’s momentum. Makeup, too, grew, thanks in part to the success of the Dior Addict and Diorshow lines. Guerlain reported excellent performance, boosted by the successful launches of the masculine fragrance Guerlain Homme and Le 2 mascara. Givenchy’s growth was attributed to the continued success of Very Irresistible, the launch of the masculine fragrance Play and the new mascara Phenomen’Eyes. Benefit enjoyed rapid growth in China and confirmed its worldwide success.

Benefit Cosmetics continues to perform well for LVMH, gaining popularity in China

In 2008, the Group’s Selective Retailing division, which includes Sephora, registered organic revenue growth of 9%. Profit from recurring operations was $573 million. Sephora continued its strong momentum in 2008, gaining market share and continuing its level of profitability.

Bernard Arnault, chairman and CEO of LVMH, said: “The 2008 results demonstrate the exceptional reactivity of our organization in this period of economic crisis. The Group has always emerged stronger from previous economic downturns thanks to the dynamic innovation of its brands, the quality of its products and the effectiveness of its teams. LVMH approaches the challenges and the opportunities of 2009 with confidence and determination and has set the objective of increasing its leadership position in the worldwide luxury goods sector.”

In July, LVMH posted first half results of $11 billion, reflecting a slight increase over the same period in 2008. Perfumes & Cosmetics, however, took a 6% dip, with reported sales of $1.8 million. Parfums Christian Dior and Guerlain were cited as continuing to gain market share; Sephora grew in all of its markets.

Guerlain launched a number of new fragrances this fall, including Les Secrets de Sophie, specially composed by Jean-Paul Guerlain. Idylle, a new floral fragrance packaged in a goldtone “raindrop,” hopes to capture a younger audience.

According to LVMH, the Perfumes & Cosmetics division increased its market share in the first half of 2009. The second quarter saw a slight increase in orders from retailers. Beyond the global success of J’Adore, the first half was notable for the progress of Miss Dior Chérie and Eau Sauvage, the leading French male fragrance. In makeup, the new foundation, Diorskin Nude, was very successful. Guerlain successfully launched its new lipstick Rouge G and benefited from the continued popularity of the Shalimar fragrance. Sustained by their international expansion, Benefit and Make Up For Ever achieved good performances.

Beauty Sales: $3.7 billion
Corporate Sales: $22.5 billion

Products/Brands: Fragrances and cosmetics sold under brands such as Christian Dior, Guerlain, Givenchy, Kenzo, Acqua di Parma, Parfums Loewe, Benefit, Fresh and Makeup Forever. LVMH also owns Sephora, the beauty products retailer.

New Products:  Dior—Fahrenheit 32 for men; Guerlain—L’Instant Magic; Parfums Givenchy—Very Irresistible Rosa Damascena 2007; Benefit—Love Your Look; Acqua di Parma—Colonia Intensa; Fendi Palazzo and Pucci Vivara
fragrances.

Comments: In 2007, LVMH Moët Hennessy Louis Vuitton’s perfumes and cosmetics business group recorded sales of $3.7 billion, with organic growth of 12%. Profit from recurring operations rose to $350 million for the unit. The company attributed the gains to innovation and expansion of flagship lines.

Givenchy’s Very Irresistible.

The world’s leading luxury products group again reported an excellent first half of 2008, demonstrating its ability to grow market share and achieve profitable growth even under what it refers to as “unfavorable conditions.” The group recorded revenues of $12.3 billion in the first half of 2008, reflecting organic growth of 12%.  Excellent performances were achieved in Asia, the U.S. and Europe. Revenue was strongest by far in the Rest of Europe (excluding France) at 41%; the U.S. came in at 8%, just above Japan.

Fragrances continue to lead the division’s sales at 49%, followed by cosmetics (31%) and skin care (20%). In the first half of 2008, the perfumes and cosmetics business group recorded organic revenue growth of 13%. Revenue growth was 8% and profit from recurring operations rose by a whopping 22% over first half 2007, and nearly double that of 2006. Revenue reached $2.1 billion, up from $1.7 billion for the same period last year.

Parfums Christian Dior, driven by J’Adore-L’Absolu and Midnight Poison, strengthened its high-quality growth and achieved profitability in all product areas and across all regions of the world. The creation of Escale A Portofino, which kicks off a new collection of fragrances based on travel, also contributed to strong growth in women’s perfumes. Guerlain and Parfums Givenchy also performed well and profitably. Givenchy is reaping the benefits of Ange ou Démon and Very Irresistible.

In cosmetics, the launch of Dior Addict’s Shine proved to be a star, along with the brand’s Diorshow Blackout. Benefit expanded in all markets, including huge success in China, a market it first entered in 2007. Guerlain’s new mascara, Le 2, and its successful Terracotta line boosted the brand’s makeup sales.

Several men’s fragrances will debut in the second half of 2008. Jude Law is the face of the new Dior Homme Sport and Justin Timberlake has been chosen for the Play fragrance under the Givenchy brand. Skin care and makeup will also play a large role. Dior will launch a new mascara, Diorshow Iconic, and Guerlain will reveal a first-time loose powder version of Météorites.

Sephora acquired a 45% stake in the Russian perfumery and cosmetics chain Ile de Beauté, positioning itself to become a major player in this high-growth market during the next few years.
With an eye focused on North American sales, LVMH announced the appointment of Renaud Dutreil, a well-known figure in French politics and industry, as chairman of its North American arm, LVMH Inc.