Louis Vuitton (LVMH), which produces luxury goods, reported an 8% increase in net profit in 2023, to a record 15.2 billion euros. This is stated in the company's financial report.
►Subscribe to the Ministry of Finance page on Facebook: the main financial news
LVMH generated 86.2 billion euros in revenue last year, an increase of 13% compared to 2022.
“All of the group’s business groups reported significant organic growth in revenue, with the exception of the wines and spirits division drinks,” added LVMH.
Sales of the company’s alcoholic beverages fell by 7% to 6.6 billion euros.
And the concern’s income in the fashion clothing and leather goods segment increased by 9% to 42.17 billion euros.
According to Forbes, the company's chief executive officer Bernard Arnault, together with his family, tops the ranking of the richest people in the world – his fortune is estimated at $206.9 billion.
< p>In second place is Elon Musk ($206 billion), and in third place is Amazon founder Jeff Bezos ($180.8 billion).
