On October 14, LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury group, released its financial results for the third quarter of 2025. Despite ongoing global economic uncertainty, the company recorded 1% organic growth year-on-year, demonstrating resilience amid geopolitical risks and currency fluctuations.
However, the group’s largest revenue driver, the Fashion & Leather Goods division, continued to face challenges. Sales fell 2% to €8.5 billion ($9.9 billion), outperforming Bloomberg’s consensus estimate of a 3.5% decline, yet the slowdown persisted.
Fashion & Leather Goods: Creativity Amid Slowdown
Following a 5% drop in the first quarter and a 9% decline in the second, the third quarter showed signs of stabilization. In its official release, LVMH noted that while tourism-related demand in Europe remained weak and currency effects weighed on results, Asia recorded a clear improvement.
Louis Vuitton, the group’s flagship brand, showcased its fusion of creativity and craftsmanship through collections by Nicolas Ghesquière and Pharrell Williams. The newly opened Shanghai landmark, “The Louis,” designed in the form of a cruise ship, embodied the Maison’s spirit of travel and attracted large crowds.
Meanwhile, makeup artist Pat McGrath spearheaded the launch of La Beauté Louis Vuitton, a new beauty line praised for its focus on innovation and sustainability.
At Christian Dior, new Creative Director Jonathan Anderson presented his first women’s and men’s collections, unveiling a modern interpretation of the “New Look.” Two new House of Dior locations opened in New York and Beverly Hills, reinforcing the brand’s global presence.
At Fendi, Silvia Venturini Fendi transitioned to the role of Honorary President, while Maria Grazia Chiuri was appointed Chief Creative Officer, marking a new chapter that reconnects the Roman Maison with its origins.
Steady Growth Across Beauty, Jewelry, and Retail Divisions
In the Perfumes & Cosmetics division, Miss Dior Essence and Dior Homme Parfum delivered strong results, while Sauvage retained its position as the world’s best-selling fragrance.
Guerlain saw continued success with its expanded Aqua Allegoria and L’Art & La Matière collections, and Givenchy strengthened its fragrance portfolio with a new floral edition of L’Interdit Parfum.
The Watches & Jewelry division achieved 1% organic growth.
Tiffany & Co. reported strong traffic at its new Milan and Tokyo stores, while Bvlgari’s Serpenti and Polychroma jewelry lines continued to perform well. TAG Heuer, building on its decade-long partnership with Formula 1, unveiled its innovative Carbonspring Oscillator.
In Selective Retailing, Sephora continued to consolidate its leadership position worldwide, with Rhode achieving record-breaking sales. DFS saw recovering demand in Macao and Hong Kong, while Le Bon Marché maintained growth through its distinctive curation and cultural programming.
Reinforcing Brand Value Amid Market Uncertainty
In a statement, LVMH said: “In an uncertain economic and geopolitical environment, the Group remains confident and will maintain a strategy focused on continuously enhancing the desirability of its brands, drawing on the authenticity and quality of its products, excellence in retail and agile organization.”
Even as global consumption patterns shift and the luxury market matures, LVMH aims to strengthen its position as an industry leader — leveraging its diverse portfolio of brands and robust financial foundation to navigate the evolving landscape of luxury.
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