Paris, November 25th, 2025 The disclosure of share transactions carried out from November 17th to November 21st, 2025, was sent to the AMF on November 25th, 2025. As required by current law, this document is publically available and can be consulted on the Company’s website (www.lvmh.com) under the section «regulated information». LVMH LVMH Moët Hennessy Louis Vuitton is represented in Wines and Spirits by a portfolio of brands that includes Moët & Chandon, Dom Pérignon, Veuve Clicquot, Krug, Ruinart, Merci ...

How significant then is this new wave of store openings for LVMH and its China strategy. At a time when we're thinking about deflation in China, a pretty weak consumer housing market that is certainly not recovered. What is driving the shift back towards luxury spending if indeed we are seeing that.Right. So the scale of the new store openings is certainly significant because we're talking about four major LVMH brands, including Louis Vuitton, Dior, Tiffany and Loro Piana, and they're all opening multi-stor ...

Core Insights - Bernard Arnault has significantly increased his stake in LVMH, purchasing approximately ₹1.4 billion ($1.6 billion) worth of shares over eight months, bringing his family's ownership closer to half of the company [1][8] - The buying spree occurred during a period of weaker quarterly results for LVMH, yet the stock has rebounded following a return to sales growth [5][8] - Arnault's strategy emphasizes maintaining wealth within LVMH rather than diversifying into other investments [1][8] Share Purchase Details - Arnault acquired around 2.5 million shares, representing about 0.5% of LVMH, at an average price of ₹566 per share, with some shares purchased as low as ₹448 in June [5][9] - The total volume of shares purchased this year far exceeded previous years, indicating a strong commitment to LVMH despite recent performance challenges [5][9] Ownership and Control - Arnault's stake in LVMH accounts for 49% of the capital and nearly 65% of the voting rights, reflecting his desire to secure an "absolute majority" [6][9] - The family has a history of consolidating control over LVMH, including a pivotal deal in 2017 to buy out minority shareholders of Christian Dior, increasing their stake significantly [9] Investment Strategy - Analysts suggest that Arnault's substantial investment in LVMH may have been better allocated towards diversification, as his non-LVMH investments are estimated at only ₹4 billion [6][9] - Financiere Agache, Arnault's holding company, remains focused on luxury investments while also having a portfolio of diversified financial investments [7][9]

| 排名 | 公司 | 10月15日股价涨 | | --- | --- | --- | | 1 | LVMH | 12.2% | | 2 | 老铺黄金 | 9.2% | | 3 | Swatch | 8.0% | | 4 | Ferragamo | 7.8% | | 5 | Moncler | 7.8% | | 6 | Prada | 7.7% | | 7 | Hermès | 7.4% | | 8 | Richemont | 6.3% | | 9 | 周大福 | 5.0% | 昨天，法国奢侈品巨头LVMH（路威酩轩）交出了一份展现"良好韧性"的成绩单，为深陷低迷状态的全球奢侈品行业打了一剂强心针： LVMH集团第三季度的营收在有机基础上同比增长1%，扭转了上半年的同步下滑趋势，核心的时装与皮具部门同比跌幅缩窄至2%，而最令人瞩目的是 中国市场重回正增长 这一表现超出市场预期，汇丰银行引用的 Visible Alpha 普遍预期是 LVMH 第三季度整体销售额将持平，时装与皮具部门将下降4%。 在财报发布后的交易日（10月15日），LVMH集团股价大涨12.22%至597.9欧元/股，市值也回升到近3000亿 ...

Core Insights - LVMH has shown signs of recovery in the luxury sector, with a 1% year-on-year organic growth in the third quarter, marking a turnaround after two consecutive quarters of decline [3][6] - Telsey Advisory upgraded LVMH's rating to "Outperform" and raised the price target from $575 to $585, reflecting positive market sentiment [1][6] - The company's stock surged by 13% following the positive earnings report, significantly boosting Bernard Arnault's fortune by over $19 billion in just 24 hours [2][3] Financial Performance - LVMH reported third-quarter revenue of 18.3 billion euros ($21.3 billion), slightly lower than the previous year's 19.1 billion euros but exceeding analysts' expectations [3] - The current stock price of LVMUY is $138.83, reflecting an increase of 2.08% or $2.83, with a market capitalization of approximately $346.29 billion [4] - Over the past year, LVMUY's stock reached a high of $159.97 and a low of $101.80, indicating volatility in the luxury market [5] Market Impact - LVMH's unexpected positive performance has lifted the European luxury sector into positive territory, with shares trading 12.6% higher [4][6] - The luxury sector is showing signs of recovery, with LVMH's performance serving as a key indicator for the market's future direction [5]

Core Insights - LVMH's sales growth in the latest quarter has positively impacted the broader luxury sector, leading to significant stock price increases for various luxury brands and boosting Bernard Arnault's net worth by over $18 billion [1][4]. Company Performance - LVMH reported third-quarter revenue of €18.3 billion (approximately $21.3 billion), marking a 1% increase in sales, which is the first quarterly growth this year [2][5]. - The company's selective retailing unit, particularly Sephora, showed the strongest growth with a 7% increase, indicating solid demand in the U.S. and Europe, and an improvement in Asia (excluding Japan) [5][6]. Market Reaction - Following LVMH's earnings report, shares of Hermès rose by 7.3%, Kering by 4.7%, and L'Oreal by 3.1%, among others, reflecting a rally in the luxury sector [3][6]. - The CAC 40 index, which includes major luxury brands, closed nearly 2% higher, marking the largest single-day increase for the index this year [1][3]. Industry Context - LVMH is viewed as a bellwether for the global luxury goods market, with a market capitalization of around €305 billion, making it one of Europe's most valuable companies [6]. - The recent earnings report signifies a recovery for LVMH after two consecutive quarters of sales declines, highlighting a return to "powerful innovative momentum" in the luxury sector [6].

Core Insights - LVMH shares increased by 12% following the announcement of growth for the first time this year, with a commitment to strengthen its position in the global luxury market [1] - The company's revenue for the third quarter reached 18.3 billion euros ($21.3 billion), which, while lower than the 19.1 billion euros from the same period last year, exceeded analysts' expectations [2] - The firm faced challenges such as currency fluctuations, trade tensions, and economic disruptions in the first nine months, but highlighted its resilience and innovative momentum in the third quarter [3] Company Performance - LVMH's revenue for Q3 2023 was reported at 18.3 billion euros, marking a decline from the previous year's 19.1 billion euros but surpassing market forecasts [2] - The wine and spirits division showed signs of recovery after previous growth was hindered by uncertainties related to new tariffs and levies affecting the market [3] Market Position - LVMH is recognized as a key indicator for the global luxury goods market, with a diverse brand portfolio that includes Louis Vuitton, Tiffany & Co., Christian Dior, and Moet & Chandon [2]

Core Viewpoint - LVMH reported a surprising 1% organic revenue growth in Q3, reaching €18.28 billion, ending two consecutive quarters of decline and exceeding analyst expectations of zero growth [3][4] Financial Performance - Q3 organic revenue grew by 1% to €18.28 billion, surpassing analyst expectations; revenue for the first nine months was €58.1 billion, down 4% year-on-year [3][4] - The fashion and leather goods segment saw a 2% decline in Q3, better than the anticipated 3.48% drop; perfumes and cosmetics grew by 2%, while selective retailing, including Sephora, experienced a strong 7% growth [3][4][6] Regional Performance - Asia (including China) grew by 2% in Q3, contrasting with a 9% decline in the first half; the U.S. market grew by 3%, while Japan saw a significant 13% decline, and Europe dropped by 2% due to currency effects [4][12] - The strong performance of LVMH's stock led to a rise in the luxury goods sector, with Kering and Richemont shares also increasing [4][9] Structural Challenges in Core Business - The fashion and leather goods segment, which includes brands like Louis Vuitton and Dior, is crucial, contributing over two-thirds of the group's profits [5] - This segment's revenue was €8.5 billion in Q3, down 2% year-on-year, while the first nine months saw an 8% decline from €29.92 billion to €27.61 billion [6][7] Performance in Other Business Segments - The selective retailing segment achieved a 7% organic growth to €3.99 billion, primarily driven by strong performance from Sephora [7] - The wine and spirits segment unexpectedly grew by 1%, benefiting from U.S. market restocking of champagne and rosé wine, reversing the expected 3% decline [7] China Market Insights - The performance in China was a key highlight, with a 2% growth in Q3, contrasting sharply with the earlier 9% decline; the CFO noted encouraging demand despite macroeconomic challenges [8] - The sustainability of this recovery in China amidst uncertain macroeconomic conditions is critical for the luxury goods sector [8] Market Outlook and Challenges - Despite the positive Q3 results, caution is advised as the CFO indicated that the Q4 comparison will be more challenging, while 2026 may present easier comparisons [11] - Ongoing macroeconomic pressures, including a strong euro impacting revenue, and structural adjustments in the luxury sector due to changing consumer behavior and geopolitical uncertainties remain significant challenges [11][12]

Core Insights - LVMH reported a surprising 1% organic revenue growth in Q3, reaching €18.28 billion, ending two consecutive quarters of decline and exceeding analyst expectations of zero growth [1][4] - Following the positive earnings report, LVMH's stock surged over 8%, positively impacting other luxury brands like Kering and Richemont [1] Financial Performance - Q3 organic revenue growth of 1% to €18.28 billion, ending two quarters of decline, with a 9-month revenue of €58.1 billion, down 4% year-on-year [4] - Fashion and leather goods segment saw a 2% decline in Q3, better than the expected 4% drop, while perfumes and cosmetics grew by 2% and specialty retail (including Sephora) grew by 7% [4] - The wine and spirits segment unexpectedly grew by 1%, reversing a forecasted 3% decline, driven by champagne restocking in the U.S. [5] Regional Performance - Asia (excluding Japan) grew by 2% in Q3, contrasting with a 9% decline in the first half of the year, indicating a potential recovery in the Chinese market [5] - The U.S. market showed a solid 3% growth, while Europe declined by 2% due to currency fluctuations and reduced tourist spending [7] - Japan experienced a significant 13% decline, attributed to a high comparative base from the previous year when a weak yen attracted tourists [7] Structural Challenges - The fashion and leather goods segment, which contributes over two-thirds of LVMH's profits, reported a revenue drop of 8% in the first nine months of the year [3] - LVMH is undergoing a major creative overhaul with new creative directors appointed across several brands, but the long-term commercial success of these changes remains uncertain [3][6] - Despite the Q3 growth, LVMH's CFO cautioned that the fourth quarter will present more challenging comparisons, indicating potential volatility in future performance [5][6]

Core Insights - LVMH's sales increased by 1% in Q3, marking the first quarter of growth this year, driven by improved demand in China [1][5] - The luxury goods sector is experiencing a prolonged slump, but LVMH's performance offers some relief [1][7] Sales Performance - LVMH reported quarterly sales of 18.28 billion euros ($21.17 billion), surpassing expectations of flat sales [5] - The fashion and leather goods division, which includes brands like Louis Vuitton and Dior, saw a 2% decline compared to the previous year, but this was an improvement from a 9% drop in Q2 [4][6] Regional Trends - Notable improvement in sales trends was observed in Asia, particularly in mainland China, which turned positive in Q3 [2] - The CFO indicated that the luxury market in Asia, excluding Japan, showed "noticeable" improvement [2] Market Challenges - LVMH faces challenges in Q4, including unfavorable currency rates and ongoing economic uncertainty [2] - The luxury sector has been impacted by price hikes and economic factors such as tariffs and the real estate crisis in China [7][8] Investor Sentiment - LVMH's U.S. shares rose by 7.5% following the positive trading update, indicating a shift in investor sentiment towards the luxury sector [4]