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LVMH’s sales fell more than expected in the first quarter as the world’s leading luxury group braces for the fallout from US President Donald Trump’s tariffs.
Organic sales of fashion and leather goods at the Paris-listed luxury group fell 5 per cent year-on-year to €10.1bn in the first three months of the year. That missed consensus expectations for a 1 per cent rise by a wide margin.
LVMH, which is controlled by billionaire Bernard Arnault, the group’s chief executive and chair, singled out the US and Japan as markets that had weakened. “The rest of Asia saw trends comparable to 2024,” the company said.
The fashion and leather goods division, which includes Louis Vuitton and Christian Dior, is seen as a bellwether for the broader luxury sector.
Group sales fell 3 per cent to €20.3bn, compared with consensus estimates that they would be flat.
“In a disrupted geopolitical and economic environment, LVMH remains both vigilant and confident at the start of the year,” the company said.
This is a developing story.
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