LVMH has reported revenue of €60.8bn for the first nine months of 2024.
Perfumes & Cosmetics outstripped the luxury giant’s other businesses in 2024 so far, increasing 2% in reported revenue and 5% in organic revenue to reach €6.1bn.
The Guerlain and Christian Dior owner said the category benefitted from a “powerful innovation strategy” and “highly selective distribution policy”.
Christian Dior achieved solid growth via its Sauvage men’s fragrance in the period which saw Rihanna join the brand as the new face of women’s perfume J’adore.
In make-up and premium skin care, Guerlain saw solid momentum for its L’Art & La Matière collection and the addition of new scent Florabloom to its Aqua Allegoria line.
Givenchy growth, meanwhile, was pushed by its new L’Interdit Absolu fragrance.
Rihanna’s Fenty Beauty (pictured) was also noted for its new range of hair care products and expanded presence in China.
Beauty retailer Sephora, part of LVMH’s Selective Retailing business, performed “remarkably well”, helping boost organic revenue for the category by 6%.
It gained market share in North America, Europe and the Middle East throughout the nine months.
Overall, LVMH’s third quarter was down on 2023’s, with organic revenue slipping by 3%.
The French firm attributed this to lower growth in Japan as a result of the stronger yen.
However, beauty continued to perform positively in this period, with Q3 2024 organic revenue up 3% on the prior year quarter.