Luxury and premium brands powerhouse LVMH Moët Hennessy Louis Vuitton posted a -6.0% year-on-year fall in reported revenue (+1% organic) to €19.1 billion for the first quarter of 2026.
The company noted, “LVMH maintained its powerful innovative momentum and showed good resilience in a geopolitical and economic environment that remained disrupted, amplified by the conflict in the Middle East.
“The United States experienced a good start to the year. In Europe and Japan, resilient local demand helped to partly offset lower tourist spending.
“Asia (excluding Japan) saw strong growth, confirming the improvement in trends observed starting in the second half of 2025. The Middle East was impacted by the conflict in March, following a very positive start to the year. The conflict had a negative impact of around -1% on organic growth for the quarter.”
Looking forward, the company said: “Amid a geopolitical and economic environment particularly disrupted by the conflict in the Middle East, LVMH remains vigilant yet confident at the start of the year.
“The Group remains focused on the development of its brands, driven by a sustained policy of innovation and investment as well as by a constant quest for quality in its designs, their desirability and their selective distribution.”
Commenting on the Selective Distribution business group, which includes the now greatly slimmed down travel retailer DFS Group, LVMH said, “In Selective Retailing, organic revenue growth came to +4% (-3.0% reported) in the first quarter of 2026.
“Sephora continued to achieve solid revenue growth in all its regions and to gain market share, consolidating its global leadership position. The retail network continued to expand, particularly in the United Kingdom, where the brand met with great success.
“DFS signed an agreement with China Tourism Group Duty Free to sell businesses in Greater China, in particular the Gallerias in Hong Kong and Macau; DFS also signed an agreement to sell the Los Angeles and San Francisco airport concessions to Duty Free Americas.
“Le Bon Marché continued to pursue its differentiation strategy with a unique slate of events.” ✈
