LVMH Moët Hennessy Louis Vuitton posted revenue of €39.8 billion in the first half of 2025, showing resilience in the face of global uncertainty. The luxury group also reported €9 billion in profit from recurring operations, with an operating margin of 22.6%, and generated €4 billion in free cash flow a 29% increase from last year.
Net profit for the group stood at €5.7 billion, down from €7.3 billion in the same period last year.
In Europe and the United States, local demand remained solid. Japan, however, experienced a decline due to the absence of the abnormal tourist spending that boosted results in 2024.
The rest of Asia showed stable trends, with improved sales to local customers in the second quarter.
The Fashion and Leather Goods segment brought in €19.1 billion in revenue during the first half of 2025. This marks a drop of 8% from the €20.8 billion reported during the same period in 2024.
Revenue in the first quarter was €10.1 billion, while the second quarter brought in €9 billion, reflecting a slight sequential slowdown.
In terms of profitability, the segment earned €6.6 billion in profit from recurring operations, down 18% from €8.1 billion last year.
Despite the decline, LVMH noted continued strength with local customers. The segment maintained a very high operating margin, and leading brands continued to innovate and engage audiences with new experiences.
Louis Vuitton stood out with several high-impact events. These included “The Louis,” a floating cultural space launched in Shanghai, and runway shows by Nicolas Ghesquière and Pharrell Williams in Avignon and Paris.
Dior named Jonathan Anderson as its new Creative Director, and his debut collection, presented in June, received strong praise.
