Companies

LVMH reports drop in revenue in the first quarter

Apr 16, 2025 France

Amid a disrupted geopolitical and economic environment, the France-based luxury conglomerate has reported a decline in first quarter revenue. Europe was the only region to grow

In the first quarter of 2025, LVMH reported a revenue of 20.3 billion euros, down by 2% and 3% on a reported and organic basis, respectively, as compared to the same period last year.

In this period, Europe was the only region to grow at 2% year-on-year. The United States recorded a 3% year-on-year decline, despite good performances in Fashion & Leather Goods and in Watches & Jewelry. Japan was down by 1%, as compared to the first quarter of 2024, which had been boosted by strong growth in Chinese consumer spending, and the rest of Asia saw similar trends, with a decline of 11%.

In particular, the Fashion & Leather Goods division recorded a first quarter revenue of 10.1 billion euros, a decline of 4% and 5% on a reported and organic basis, respectively, on a comparable basis to the first quarter of the previous year.

Asked during the investor call about the immediate impact of the tariffs announced by the US, LVMH CFO Cécile Cabanis said: “We didn't see a major change in trends, and we have nothing to report specifically for Q1”.

“It’s true that the aspirational clientele is always more vulnerable to less positive economic cycles and uncertainty. And it might have had some impact in recent weeks, but rather on categories like wine and spirits and beauty”, she added, saying she didn't see any impact on fashion and leather goods consumption.

Source: lvmh.com and voguebusiness.com

Image Credits: purseblog.com

France Companies Luxury LVMH Quarter Results Results