Luxury group LVMH has reported full-year revenues for 2024 of just under €84.7 billion, a fall of 2% year on year. Profits on this revenue were €19.6 billion, down by 14%. Report by Leatherbiz.

The group’s leathergoods and fashion business brought in €41 billion in revenues, which was 3% less than in 2023. Profits for this category were €15.2 billion, down by 10%.

This means that leathergoods and fashion contributed 48.4% of group revenues, but 77.5% of profits.

LVMH said the leathergoods and fashion division “showed solid resilience” in 2024. Louis Vuitton and Christian Dior both enjoyed high visibility over the summer, with the Paris Olympics, it explained.

The group also said Louis Vuitton’s new flagship store in New York was “a major success”. It added that Christian Dior had maintained its creative momentum, “fusing heritage and modernity”, while Loewe was buoyed by growing brand awareness and “the bold creativity of its collections”.