LVMH Reports 4% Revenue Decline in First Half of 2025
LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury goods group, posted lower revenue and operating profit in the first six months of 2025 compared with the same period last year.
Group revenue amounted to €39.8 billion, representing a 4 per cent decrease year-on-year. Operating profit from recurring operations fell by 15 per cent to €9.012 billion.
Business Segment Overview
The Fashion and Leather Goods division, the group’s largest segment, recorded an 8 per cent drop in revenue.
The Watches and Jewellery division remained relatively stable, posting sales of €5.150 billion, just 1 per cent lower than in the first half of 2024.
Regional Performance
From a geographical perspective, results were mixed. Revenue in the United States decreased by 1 per cent, while Europe recorded a 1 per cent increase. Japan saw a sharper fall of 15 per cent. The rest of Asia, excluding Japan, declined by 9 per cent.
Outlook
The first-half results reflect a period of slower growth across several markets, with performance varying significantly between regions and product categories. While some segments recorded declines, others remained more stable, helping to balance the overall group performance.
