LVMH announced first-quarter sales rose 1% organically to €19.12 billion. Fashion and leather goods sales fell 2% to €9.25 billion, better than the prior quarter but below expectations. The Middle East conflict impacted growth by about 1 percentage point.
LVMH, a leading luxury group, disclosed its first-quarter results on Monday, showing organic sales growth of 1% to €19.12 billion. The fashion and leather goods division, which accounts for a significant portion of revenue, saw sales drop 2% to €9.25 billion. This marked an improvement from a 3% decline in the fourth quarter of 2025, though it fell short of analyst forecasts for a 0.9% decrease. CFO Cécile Cabanis noted that Louis Vuitton remained resilient, Dior showed strong improvement, Loro Piana grew double digits, and Rimowa outperformed, while other brands lagged the average. She highlighted positive customer responses to new creativity and products, boosting conversion rates at major brands, including the initial rollout of Jonathan Anderson's ready-to-wear at Dior, with more items like bags and shoes to follow in coming quarters. The ongoing war in the Middle East reduced group organic growth by approximately 1%, with the region representing 6% of sales. Cabanis stated demand there fell 30% to 70% in March, and current trading shows it still very low, without evidence of demand shifting to other regions yet. Regionally, Europe and Japan sales declined 3%, the US rose 3%, and the rest of Asia increased 7%, aided by a strong Chinese New Year. Other divisions performed well: watches and jewelry up 7%, led by Tiffany and Bvlgari; selective retailing up 4%; wines and spirits up 5%. Cabanis expressed confidence in the group's initiatives amid volatility.
