THE WHAT? LVMH has reported its results for the first quarter of fiscal 2024. The luxury conglomerate delivered modest organic revenue growth of 3 percent, which it branded ‘a good start’ to the year.
THE DETAILS In terms of revenue change by business group, Selective Retailing and Perfumes & Cosmetics were the best performers, up 11 percent and 7 percent respectively. The Fashion & Leather Goods unit put on 2 percent while Watches & Jewelry dipped 2 percent and Wines & Sprits dove 12 percent.
In regional terms, LVMH said that Europe and the US achieved growth on a constant currency and consolidation scope basis over the quarter; Japan recorded double digit growth and the rest of Asia reflected the strong growth in spending by Chinese customers in Europe and Japan.
THE WHY? LVMH referenced the uncertain geopolitical and economic environment and said it will rely on the diversity of its businesses, good geographical balance and talent and motivation of its teams to strengthen its global leadership position of the luxury goods sector in 2024.
Clinical aesthetics products refer to a category of products used in the field of medical aesthetics or cosmetic dermatology. These products are typically designed and formulated to be used under the supervision of healthcare professionals, such as dermatologists, plastic surgeons, or trained aestheticians. They are distinct from over-the-counter cosmetics in that they often contain active ingredients or formulations that require expertise in their application or administration.
Examples of clinical aesthetics products include:
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Dermal Fillers: Injectable substances used to add volume, smooth wrinkles, and enhance facial contours. Examples include hyaluronic acid fillers like Juvederm and Restylane.
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Botulinum Toxin (Botox): Injectables that temporarily paralyze facial muscles to reduce the appearance of wrinkles caused by repetitive movements, such as frown lines and crow's feet.
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Chemical Peels: Solutions applied to the skin to exfoliate and improve its texture. They can treat acne, pigmentation issues, and signs of aging.
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Laser and Light Therapies: Devices that emit focused light or laser energy to treat various skin conditions, including acne, scars, and signs of aging.
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Prescription Skincare Products: Formulations containing active ingredients like retinoids (vitamin A derivatives), hydroquinone, or prescription-strength antioxidants to address specific skin concerns under medical supervision.
