LVMH, owner of Louis Vuitton, has reported revenue of €18.28bn ($21.15bn) for the third quarter (Q3) of 2025 – a 1% organic increase from the same period of 2024.
The result marks the French luxury group’s first quarterly growth of 2025, following a 4% decline in the previous quarter.
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For the first nine months of the year, LVMH generated €58.1bn in revenue, compared with €60.75bn in the corresponding period of 2024.
This reflected a 4% decrease on a reported basis and a 2% decline organically.
The company stated that business in Asia excluding Japan showed noticeable improvement over the nine-month period.
Europe and the US remained broadly unchanged from the year before, while Japan’s performance weakened following the previous year’s strong tourist activity linked to a weaker yen.
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By GlobalDataLVMH noted that reduced tourist spending and currency movements affected European revenue in the third quarter.
By segment, organic revenue in the third quarter increased 1% in wines and spirits, 2% in both perfumes and cosmetics and in watches and jewellery, and 7% in selective retailing. Fashion and leather goods posted a 2% decline.
The wines and spirits division reported slight organic growth, supported by champagne and Provence rosé wines. Cognac sales were affected by trade tensions in the US and China.
Fashion and leather goods revenue fell 6% organically over the first nine months of the year, but showed sequential improvement in the third quarter.
Perfumes and cosmetics were stable on an organic basis, backed by Dior’s launches of Miss Dior Essence and Dior Homme Parfum, alongside Guerlain’s additions to the Aqua Allegoria and L’Art & La Matière lines.
Watches and jewellery recorded 1% organic growth in the nine-month period, driven by Tiffany & Co and Bvlgari, with new product introductions and exhibitions in Milan, Tokyo and Mumbai.
Selective retailing posted 3% organic growth, supported by continued gains at Sephora and recovery at DFS in Macao and Hong Kong.
LVMH “showed good resilience and maintained its powerful innovative momentum despite a disrupted geopolitical and economic environment.”
The company remains committed to its strategy and “focused on continuously enhancing the desirability of its brands, drawing on the authenticity and quality of its products, excellence in retail and agile organisation.”
