In 2023, the Asia-Pacific region, including Japan, accounted for 38 percent of the French luxury group’s global revenue, while sales from the United States made up about a quarter of its revenue.
The LVMH Group
The French luxury goods conglomerate LVMH Group owns a broad portfolio of 75 luxury houses including Tiffany &Co., Christian Dior, and its namesake Louis Vuitton fashion house. The LVMH Group has demonstrated strong and consistent sales growth over the past decade. In 2023, the group saw a record-breaking overall revenue of about 86.15 billion euros, almost three times the figure from ten years back in 2013. The number of stores owned by the group also followed a parallel growth pattern, hitting anall-time high of 6,097 stores in the same year.
Louis Vuitton
Louis Vuitton was by far the most valuable luxury brand in 2023, with a brand value of 124.8 billion U.S. dollars, ahead of second-ranked Hermès which was valued at around 76.3 billion dollars. The luxury fashion house was founded in 1854, and underwent a merger with Moët Hennessy in 1987, resulting in the formation of the LVMH Group. As of 2023, the LVMH empire is overseen by French tycoon Bernard Arnault, who is among the leading billionaires in the luxury industry based on wealth.
