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LVMH Reports Record-Breaking Results: Luxury Giant Surges Ahead

LVMH reports a 23% increase in revenue and profit, reaching a market capitalization of €400 billion and becoming the 13th most valuable company in the world.

LVMH declared revenue of €79.2 billion while profit from recurring operations was €21.1 billion, both a 23% increase YoY. Sales in Europe, the US, and Japan increased significantly due to strong demand from local customers and the recovery of international travel, while Asia was described as "stable."

CEO Bernard Arnault said the results would give the company confidence amid an uncertain future and cited the "exceptional appeal" of LVMH's brands and the agility of its teams. LVMH's decision to raise prices in the luxury sector has played a crucial role in the success of its brands in an otherwise turbulent economy, according to analyst Daniel Langer.

LVMH's watches and jewellery recorded an 18% increase in revenue, driven by a record year from Tiffany & Co, off the back of the popularity of its Lock bracelet collection. Arnault said LVMH would persist with this strategy, with plans to increase its lead across market segments. LVMH recently reached a market capitalization of €400 billion and is now the 13th most valuable company in the world.

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