French luxury group LVMH saw its sales drop unexpectedly in the first quarter, as American customers are joining the Chinese in their reluctance to let their cash roll. The figures indicate more than just a temporary dip.
Heart under pressure
The parent company of Louis Vuitton and Moët & Chandon saw its turnover fall by 3 % to 20.3 billion euros in the first quarter of 2025, while analysts had expected a stable result. The main ‘culprit’ is the very heart of LVMH: the fashion and leather goods division, which accounts for almost half of the turnover and the bulk of the profit, recorded a turnover decline of 5 %. Louis Vuitton performed better than the division average, but Dior remained below it.
