Editor’s Note
The luxury sector faces headwinds from a slowing global economy and shifting consumer patterns. This article examines LVMH’s latest financial results, which reflect these broader challenges with a slight decline in revenue and a more pronounced drop in operating profit for the first half of 2025.
The luxury industry is impacted by the slowing global economy, changes in consumer behaviour and tariff wars. In this challenging environment, the world’s leading luxury group reported a slight drop in revenues and profit for the first half of 2025. Over the period, LVMH recorded revenue of EUR 39.8 billion (-4%). At EUR 9.012 billion, the profit from recurring operations is down 15%. The flagship Fashion and Leather Goods division is slowing down with revenues of EUR 19,115 billion (-8%). For what is our main concern at MONOCHROME, the Watches & Jewelry business group’s activity remained stable at EUR 5.150 billion (-1%). LVMH does not provide detailed information about the different brands of the business group, hence the respective performance of watches and jewelry.
From a geographical perspective, LVMH’s business was stable for the United States (-1%) and Europe (+1%) but was impacted by the business in Japan (-15%) and Asia exc Japan (-9%).
commented Bernard Arnault, Chairman and CEO of LVMH.
