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Upward

After three exceptional years, without

looking back, we must now think even bigger

and with greater focus on the long term.

In 2023, the LVMH Group extended its lead,

protected its margins, increased its

investments to prepare for the future and

helped its Maisons grow around the world.

Our flagship Maisons have established their positions at the pinnacle of the finest

craftsmanship, their names synonymous with the ultimate in prestige and inter-

national renown. They exert irresistible appeal, turn heads and inspire dreams;

they are where creativity reaches its zenith, where the magnetic force of desir-

ability is strongest. We devote all our energy to making these beacons shine ever

more brightly across every continent.

Throughout the challenging period our world has experienced these past few

years, the desirability of the products that our Maisons design and craft has

continued ever upward among our customers, who have driven growth across

the LVMH Group at unprecedented rates. It is because each of our 75 Maisons’

products inspired joy and encapsulated beauty at a time when joy and beauty really

mattered, that our Maisons were able to achieve this growth.

Investing while reinforcing our margins

Our Group’s record results in fiscal year 2023 reflect both the strength of our

creative model and our investment capacity, built up to fuel our Maisons’ vitality

over both the short and the long term. With investments in production capacity

and product quality; investments to raise awareness of our Maisons and reinforce

their prestige; investments to boost our portfolio of standout properties and

locations that underpin our brands’ commercial appeal – rarely has LVMH invested

so much in reinforcing its strengths as it did in 2023. We stand by our convictions:

we firmly believe in the long-term benefits that our business model brings to our

Group and our environment.

“The truer the LVMH Group remains

to its guiding principles, the more

responsive it can be to both the cyclical

and transitory shocks that may buffet

one or other of its business groups, or

the economic regions where its activities

are located.”