LVMH Posts €80.8 Billion In 2025 As Global Demand For Luxury Shows Mixed Signals

French luxury powerhouse LVMH Moët Hennessy Louis Vuitton SE reported consolidated revenue of €80.8 billion for 2025, underscoring the Group’s resilience and sustained innovative drive amid a volatile geopolitical and economic landscape. While Europe experienced a slowdown in the second half of the year, the United States delivered growth, supported by robust local demand. Japan recorded a decline compared to 2024, a year that had benefited significantly from increased tourist spending driven by a sharply weaker yen. Elsewhere in Asia, performance showed a marked improvement over 2024, with a return to growth in the second half of the year.

Organic revenue growth for the fourth quarter stood at 1%, consistent with the third quarter. Profit from recurring operations reached €17.8 billion in 2025, translating into an operating margin of 22%, impacted by currency fluctuations. Group share of net profit amounted to €10.9 billion, while operating free cash flow rose 8% to €11.3 billion.

The Watches & Jewelry business group recorded organic revenue growth of 3% in 2025. Profit from recurring operations was down 2%. Tiffany & Co. continued to successfully renovate its store network and strengthen its iconic product lines, with the HardWear, Knot and Bird on a Rock collections posting particularly strong performances. In high jewelry, the Blue Book Sea of Wonder line delivered an unprecedented performance for the Maison, whose creativity was also recognized at the Grand Prix de la Haute Joaillerie in Monaco, where it won two awards. Its new store concept inspired by The Landmark in New York continued its global rollout. Recently opened flagships in Milan and Tokyo saw a high level of in-store traffic and revenue. Bvlgari had another record year, starting with a celebration of the iconic Serpenti in Shanghai through an immersive art exhibition, which was subsequently shown in Seoul and Mumbai. The new Polychroma high jewelry collection generated record sales of multi-million-dollar pieces. New flagship stores were opened in key markets. Chaumet continued to develop its emblematic Bee de Chaumet jewelry line and unveiled its Jewels by Nature high jewelry collection. In watches, TAG Heuer enjoyed a high-profile presence at the Grand Prix races of Formula 1® as part of the partnership entered into in 2024. A number of innovations from LVMH’s Maisons were unveiled at watch shows, including much-remarked limited editions from Hublot and Zenith.

Despite these results, LVMH shares fell 8.19% to €541 during Wednesday’s trading session on France’s Euronext, down from €589.30 at the previous close. According to a CNBC report, the Group’s October–December (Q4) performance failed to surpass investor expectations, which had been recalibrated upward following strong earnings reports from peers.

“With peers such as Richemont, Burberry and Cucinelli reporting solid quarter-on-quarter improvements and beating expectations, the bar had moved slightly higher,” Citi analysts noted, as cited in the report. LVMH announced its October–December quarter results for the financial year ending 2025–26 on Wednesday, 28 January 2026, reiterating full-year revenue of €80.8 billion and confirming fourth-quarter growth of 1%, in line with third-quarter performance. Profits from recurring operations for the calendar year totalled €17.8 billion, maintaining a 22% margin, again influenced by currency effects. Net profit stood at €10.9 billion, alongside an 8% increase in operating free cash flow to €11.3 billion.

Commenting on the results, Bernard Arnault, Chairman and CEO of LVMH, said: “Once again in 2025, LVMH demonstrated its solidity and effective strategy upheld by its highly engaged teams. The Group was buoyed by the loyalty and growing demand shown by our local customers. This momentum was once again underpinned by the powerful desirability of our brands, which embody creative passion and the pursuit of the utmost quality, and by our ambition of offering our customers extraordinary stores and cultural experiences.”