The French luxury goods conglomerate LVMH achieved impressive sales growth last year, surpassing even analysts' expectations. The core business of fashion and leather goods played a significant role in this success.

The company, which owns luxury brands such as Louis Vuitton, Dior, and Celine, enters the new year with confidence. LVMH recorded a total revenue of €86.15 billion in 2023 - an impressive organic growth of 13 percent compared to the previous year.

Particularly pleasing is the success of the fashion and leather goods division, which contributed 42.17 billion euros to the total revenue. The revenue recorded an organic growth of 14 percent, as announced by LVMH in a statement.

The division "Selective Retailing" also recorded an impressive sales growth of 25 percent to 17.89 billion euros. This division includes, among others, the well-known skincare brand Sephora.

However, the watches and jewelry as well as perfume and cosmetics segments performed slightly less well, with only a 7 and 11 percent increase, respectively. The wines and spirits sector even experienced a 4 percent decrease in revenue.

LVMH also records positive development with regards to net profit. This increased from 14.08 billion euros in the previous year to 15.17 billion euros.

The company also plans to propose a dividend of 13 euros per share to the Annual General Meeting on April 18th, which corresponds to an increase of one euro compared to the previous year.

At Euronext Paris, LVMH stock reacted immediately to the news and briefly gained 8.04 percent in value, causing it to rise to 740.40 euros.

These impressive numbers show that the luxury goods conglomerate LVMH continues to remain at the top of the market and can surpass analysts' expectations with its strong revenue growth.