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29 Jan 2024

LVMH Reports Record Profit Despite Luxury Slowdown

LVMH experienced a 9% growth in 2023, with net profits reaching [€15.2 billion](https://www.lemonde.fr/en/economy/article/2024/01/26/lvmh-makes-record-sales-despite-slowdown-in-luxury-goods-market_6467525_19.html) amid signs of a broader luxury market slowdown. Over 50% of the revenue came from fashion brands, with organic growth peaking at 10% in the last quarter. The company's share value rebounded 8% after initial shocks, reflecting confidence in their consistent average organic growth and the maintenance of a 26.5% operating margin despite higher marketing costs.