The Strategist

LVMH net profit grows by 17% in 2022

01/27/2023 - 06:10

The net profit of French Louis Vuitton Moet Hennessy (LVMH) grew to €14.084 billion by the end of 2022, up 17%.

Julien Chatelain
Julien Chatelain
According to a press release from the corporation, a record was set in many of its divisions last year.

The company's net financial debt reduced by 4% to €9.201 billion, and revenue increased 23% to €79.184 billion, according to the statement. The majority of the income was generated by the sale of clothing and leather goods.

Europe, Japan, and the US all experienced growth. Revenue for LVMH increased 13% to €22.699 billion in the fourth quarter of 2022.