Editor’s Note
This article reports on LVMH’s Q3 2025 revenue, noting a year-on-year decline attributed to currency fluctuations but a slight sequential increase. The timeline contains an apparent inconsistency regarding the comparison year, which we are clarifying with sources. We will update the story as more information becomes available.
LVMH, the world’s largest luxury group, announced on Tuesday that its third-quarter revenue fell 4% year-on-year to 18.3 billion euros (approximately $21 billion) due to the impact of currency fluctuations.
According to the company’s statement, revenue decreased from the over 19 billion euros recorded in the same period of 2024.
However, revenue for the third quarter of 2025 increased by 1% compared to the previous quarter (three-month period).
Cumulative revenue from January to September this year was 58 billion euros. This was primarily due to a year-on-year decline in the core Fashion & Leather Goods division, which houses brands such as Louis Vuitton and Dior.
Additionally, sales in the Wines & Spirits division (including brands like Moët & Chandon and Hennessy), the Watches & Jewelry division, and the Perfumes & Cosmetics division also decreased compared to the same period in 2024 (January to September).
For the third quarter of 2025, the statement reported that “improvements were seen in all business groups and regions except Europe.”
In Europe, “tourist spending decreased due to the impact of currency fluctuations, and the impact was greater in this quarter than at the beginning of the year.”
According to LVMH, demand declined in the Japanese market. This is a reaction to 2024, which was partly supported by increased tourist spending due to a weaker yen.
Furthermore, the group stated that cognac sales were affected by trade tensions between the US and China.