Core Insights - LVMH reported Q3 2025 revenue of €18.28bn ($21.15bn), marking a 1% organic increase from Q3 2024, following a 4% decline in the previous quarter [1] - For the first nine months of 2025, LVMH generated €58.1bn in revenue, a 4% decrease compared to €60.75bn in the same period of 2024 [1] Revenue Performance - The company experienced noticeable improvement in Asia (excluding Japan) over the nine-month period, while Europe and the US remained stable year-over-year [2] - Japan's performance weakened due to reduced tourist activity linked to a stronger yen [2] - European revenue in Q3 was affected by reduced tourist spending and currency movements [2] Segment Analysis - Organic revenue growth in Q3 by segment: - Wines and spirits: 1% increase - Perfumes and cosmetics: 2% increase - Watches and jewellery: 2% increase - Selective retailing: 7% increase - Fashion and leather goods: 2% decline [3] - The wines and spirits division saw slight organic growth, supported by champagne and Provence rosé wines, while cognac sales were impacted by US-China trade tensions [3] Year-to-Date Performance - Fashion and leather goods revenue fell 6% organically over the first nine months but showed sequential improvement in Q3 [4] - Perfumes and cosmetics remained stable, supported by new product launches from Dior and Guerlain [4] - Watches and jewellery recorded 1% organic growth driven by Tiffany & Co and Bvlgari [5] - Selective retailing posted 3% organic growth, aided by gains at Sephora and recovery at DFS in Macao and Hong Kong [5] Strategic Outlook - LVMH demonstrated resilience and maintained innovative momentum despite geopolitical and economic disruptions [5] - The company remains committed to enhancing brand desirability through authenticity, quality, retail excellence, and an agile organization [5]

Core Insights - LVMH Moët Hennessy Louis Vuitton reported a revenue of €58.1 billion for the first nine months of 2025, showing resilience amid geopolitical and economic disruptions [1] - The company experienced a 1% organic growth in the third quarter, with improvements across all business groups and regions, except for Europe where tourist spending declined [1][2] Revenue Performance - **Overall Revenue**: Total revenue for the first nine months of 2025 was €58.1 billion, a decrease of 4% compared to the same period in 2024 [2] - **Wines & Spirits**: Revenue decreased by 7% to €3.9 billion, with a slight organic growth of 1% in Q3 [2][4] - **Fashion & Leather Goods**: Revenue fell by 8% to €27.6 billion, with a decline of 2% in Q3 [2][5] - **Perfumes & Cosmetics**: Revenue remained stable at €6.0 billion, with a 2% organic growth in Q3 [2][6] - **Watches & Jewelry**: Revenue decreased by 2% to €7.4 billion, with a 2% organic growth in Q3 [2][7] - **Selective Retailing**: Revenue grew to €12.6 billion, with a 7% organic growth in Q3 [2][8] Regional Performance - **Europe and the United States**: Stable performance with solid local demand, but Europe faced a decline in tourist spending due to currency fluctuations [1] - **Japan**: Experienced a decline compared to 2024, which had benefitted from increased tourist spending [1] - **Rest of Asia**: Notable improvement in trends compared to 2024 [1] Business Group Highlights - **Wines & Spirits**: Slight organic growth in Q3, with improved performance in champagne and wines [4] - **Fashion & Leather Goods**: Resilience shown through local customer engagement and successful product launches, including La Beauté Louis Vuitton [5] - **Perfumes & Cosmetics**: Continued innovation with successful product launches, maintaining stable revenue [6] - **Watches & Jewelry**: Organic growth driven by successful product lines and exhibitions [7] - **Selective Retailing**: Strong performance from Sephora and improved trends in DFS [8] Outlook - LVMH remains confident in its strategy to enhance brand desirability and maintain its global leadership position in luxury goods despite economic uncertainties [9]