LVMH’s sales fell more than expected in the first quarter, striking a downbeat note for the luxury industry as it braces for the fallout from US President Donald Trump’s tariffs.
Organic sales in LVMH’s fashion and leather goods division, which includes Louis Vuitton and Christian Dior, fell 5 per cent year-on-year to €10.1bn in the first three months of the year.
Performance in the group’s key division, which is seen as a bellwether for the broader luxury industry, missed consensus expectations for a 1 per cent rise by a wide margin. Bernstein analyst Luca Solca said LVMH’s results marked a “soft start” to 2025.
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