The company, which owns brands such as Chaumet, Tiffany & Co., Bulgari, and TAG Heuer, confirmed that sales reached €10.58 billion ($AUD17.71 billion) for the year.
Despite the sales decline, LVMH chairman Bernard Arnault joined a chorus of industry leaders to forecast improved trading conditions in the year ahead.
“For once, I’m not going to announce record results. However, the year was solid and I am quite confident, even very confident, for the coming year. 2025 gets off to a good start,” he said.
With a nine per cent increase in fourth-quarter sales, Arnault highlighted Tiffany & Co. as a ‘sleeping beauty’ with an increasingly positive outlook.
In the fourth quarter specifically, sales among watch and jewellery brands increased by 3 per cent on a year-on-year comparison.
LVMH’s group revenue declined by 2 per cent, reaching €84.68 billion ($AUD141.73 billion), with net profit declining by 14 per cent.
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