LVMH revenue dips 3% in H1 2026, but organic growth returns

Louis Vuitton proprietor LVMH reported first-half 2026 gross of €38.64bn ($43.93bn), down 3% connected a reported basis, though integrated gross roseate 2% year-on-year.

Growth accelerated to 3% organically successful the 2nd quarter, oregon 4% excluding the interaction of the Middle East conflict.

Profit from recurring operations stood astatine €8.69bn, down 4%, portion the radical stock of nett net held dependable astatine €5.69bn.

Second-quarter gross unsocial reached €19.52bn, up 3% organically.

Regionally, the US saw maturation prime up gait crossed the half, portion Asia excluding Japan continued the improving inclination that started successful the 2nd fractional of 2025.

Japan posted half-year growth, and Europe held up well.

Among divisions, wines and spirits delivered 5% integrated gross growth, with recurring operating nett climbing 11% to €582m.

Fashion and leather goods gross slipped 5% connected a reported ground to €18.14bn but returned to 1% integrated maturation successful the 2nd quarter, reversing a 2% integrated diminution successful the first.

Segment nett fell 7% to €6.19bn, partially attributed to currency movements.

LVMH besides agreed to merchantability Marc Jacobs to WHP Global.

Perfumes and cosmetics gross held level organically astatine €3.91bn, with nett down 2% to €417m.

Watches and jewellery outperformed different divisions, with integrated maturation reaching 9% for the fractional and 11% successful the 2nd quarter, lifting gross to €5.22bn and nett 9% higher to €831m.

Selective retailing posted 5% integrated maturation to €8.40bn, with nett up 2% to €893m.

Sephora expanded into Belgium and Croatia, portion DFS agreed abstracted income of its Greater China operations, Los Angeles and San Francisco airdrome concessions, and Okinawa business.

LVMH said it remains assured successful its outlook for 2026 contempt a geopolitical and economical situation it described arsenic uncertain, and volition support its absorption connected enhancing marque desirability, merchandise prime and retail excellence.

LVMH president and CEO Bernard Arnault said: "LVMH demonstrated its solidity and effectual strategy. Our Maisons – which remained focused connected ensuring the utmost prime successful our products, and respective of which are pursuing their originative renewal – continued to animate dreams and heighten their desirability."

"LVMH gross dips 3% successful H1 2026, but integrated maturation returns" was primitively created and published by Retail Insight Network, a GlobalData owned brand.