For its first quarter of 2024, LVMH recorded revenue of €20.7 billion, down 2% on a reported basis from €21 billion for the same period in 2023. The group saw a 2% dip in reported revenue to €10.5 billion with Louis Vuitton said to have a “great start” to the year. Within its perfumes and cosmetics arm, LVMH saw a 3% rise in reported revenue driven by “powerful innovative momentum and selective distribution strategy.” The group said Sephora achieved remarkable growth, especially in Europe, North America and the Middle East. Its revenues for its jewellery and watches division fell 5%.