LVMH Beauty and Sephora outperform other businesses in Q1 2024

While LVMH's organic revenue increased by 3% across all business units in the first quarter of 2024, organic growth in the fragrances and cosmetics industry increased by 7% (reported growth was 3%), totaling 2.182 billion euros.

Sephora continued its strong momentum, with select retail sales up 11% (organic), totaling $4.175 billion.

Highlights in the fragrance and cosmetics segment include Christian Dior Sauvage, J'adore and Miss Dior in fragrance, Rouge Dior in color cosmetics and Capture in skin care.

Guerlain also performed well, particularly with its Aqua Allegoria fragrance, including Florabloom variants, and Terracotta in Abeille Royale creams and cosmetics.

Givenchy's L'Interdit fragrance was another strong performer, while Maison Francis Kurkdjian "delivered solid growth driven by its iconic Baccarat Rouge 540," according to LVMH.

Meanwhile, LVMH noted that "Sephora once again achieved significant growth and continues to expand market share."

Recently, Piper Sandler reported that Sephora is catching up with Ulta among U.S. teen shoppers.