LVMH shows good resilience in the first quarter of 2025

Core Viewpoint - LVMH Moët Hennessy Louis Vuitton reported a revenue of €20.3 billion in Q1 2025, demonstrating resilience and innovative momentum despite a challenging geopolitical and economic environment [1][9]. Revenue Performance - Revenue by region showed Europe achieving growth, while the United States experienced a slight decline. Japan's revenue decreased compared to Q1 2024, which had benefitted from strong Chinese consumer spending [2]. - Total revenue for LVMH decreased by 2% year-over-year, with an organic decline of 3% [2]. Business Group Performance - Wines & Spirits: Revenue declined by 8% reported and 9% organic, with Champagne showing slight decreases and Cognac affected by weaker demand in China and the U.S. [2][3]. - Fashion & Leather Goods: Revenue decreased by 4% reported and 5% organic, but showed resilience compared to a strong Q1 2024. Notable successes included a relaunch of a collection with Takashi Murakami and the introduction of a new cosmetics segment [2][4]. - Perfumes & Cosmetics: Revenue remained stable, supported by successful product launches and innovations in fragrances and skincare [5][6]. - Watches & Jewelry: Revenue was stable, with Tiffany & Co. expanding its iconic lines and TAG Heuer returning as the Official Timekeeper of Formula 1 [7]. - Selective Retailing: Revenue was stable, with Sephora continuing to grow and DFS facing challenges due to international conditions [8]. Strategic Focus - LVMH remains vigilant and confident, focusing on brand development through innovation, investment, and a commitment to quality and desirability in its products [9][10].