Stéphane Bianchi

Group Managing Director

#1 – Opportunity

Fiscal year 2024 marks a transition following the past few years of strong growth

in the luxury sector. One cycle is ending and another is beginning. What’s emerg-

ing is a more fragmented world – a world in which geopolitical tensions and

the challenge of the green transition have different implications for different

regions. The major macroeconomic centers are now each following their

own trajectory.

The one common denominator is the uncertainty that continues to hang over

markets. In the short term, this is of course affecting the behaviors of businesses

and individuals, causing both investment and consumer spending to slow. For those

who can take a longer view, though, a change of cycle also opens up new oppor-

tunities: opportunities to craft new designs and experiences, and satisfy new cus-

tomer groups. It’s up to us to identify and seize these growth drivers.

#2 – Differentiation

In this low-visibility environment, it’s more important than ever that we follow our

truest guide: our customers. The fundamentals haven’t changed. We must antici-

pate customers’ needs and open them up to new horizons through brand-new,

exclusive, unexpected experiences and products of the highest quality.

However todays multipolar world with its divergent market trends entails a host

of local factors that need to be taken into account A global player like LVMH must

be able to recognize and respond to these factors with the tailored precision they

require, drawing on the expertise of its local teams. The days of simply providing

customers with a uniform response are over. Something that’s a priority for one

customer might be no more than an option for another, depending on their location,

time, channel, profile and lifestyle. We have everything we need within the Group

to be able to meet – and surpass – these expectations.

#3 – Excellence

Yes, we must differentiate, but while continuing to abide by our longstanding

guiding principle: our single-minded focus on excellence. And that means excel-

lence at every level, in everything we do. From our supply chains and production

lines through to the in-store experience, what sets our people and our Maisons

apart is that they always strive to do better and better, seizing every opportunity

to add an ever more attentive, imaginative, exacting touch, and sharing their passion

for rare pieces, unique moments and exceptional heritage.

More than a mission, we see this pursuit of excellence as our duty, as stewards of

these iconic brands. It is the foundation upon which we have built our reputation of

enduring value, timeless appeal and unforgettable experiences for our customers.

Always seeking to achieve the highest possible quality, creativity and sustainability

– in every sense of the word: this drive for excellence is what fuels our Maisons’

desirability and underpins the priorities of LVMHs Executive Committee Its also

what enables the Group to confidently navigate turbulent times in the knowledge

that we will as ever emerge even stronger

New horizons,

new opportunities