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LVMH Chairman Remains ‘Quite Confident’ Despite Slowing Growth

The world’s biggest luxury conglomerate is counting on China’s reopening to boost sales after quarterly growth slowed to a single-digit rate for the first time since 2020.
LVMH chief Bernard Arnault, 73, poses with his wife Helene Mercier and four of his five children.
LVMH chief Bernard Arnault, 73, poses with his wife Helene Mercier and four of his five children. (Getty)

LVMH chairman Bernard Arnault said he remained “quite confident” for 2023 even as growth at luxury’s biggest group sank below double-digits for the first time since 2020.

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Further Reading

At Louis Vuitton, a New CEO’s Mission

This week, Dior’s Pietro Beccari was named CEO of LVMH flagship Louis Vuitton, luxury’s biggest brand with €20 billion in annual sales. The job comes with high stakes and big shoes to fill.

Louis Vuitton, Dior Get New CEOs in LVMH Shakeup

Pietro Beccari will succeed Michael Burke leading LVMH flagship Louis Vuitton, while Delphine Arnault will become Dior’s new CEO as part of the luxury conglomerate’s biggest executive reshuffle in years.

About the author
Robert Williams
Robert Williams

Robert Williams is Luxury Editor at The Business of Fashion. He is based in Paris and drives BoF’s coverage of the dynamic luxury fashion sector.

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