LVMH quarterly sales drop 4% on currency swings

The world's biggest luxury group LVMH reported Tuesday that its third-quarter revenue dropped four percent to 18.3 billion euros ($21 billion) due to currency movements.

Revenue fell from a level of over 19 billion reached in the same period of 2024, the company said in a statement.

The measure picked up however in the third quarter of 2025 compared to the previous three months, with a rise of one percent.

From January to September this year, the group posted revenue of 58 billion euros, dragged down from the same period last year by its key fashion and leather goods division, which includes brands such as Louis Vuitton and Dior.

Sales of wines and spirits -- with its brands including Moet and Hennessy -- watches and jewellery, plus perfumes and cosmetics were also down in that period compared to the first nine months of 2024.

The company insisted it "showed good resilience and maintained its powerful innovative momentum despite a disrupted geopolitical and economic environment".

For the third quarter of 2025, the statement reported "an improvement across all business groups and all regions, with the exception of Europe".

In Europe, "revenue from tourist spending declined, affected by currency fluctuations, which weighed more on the quarter than earlier in the year."

LVMH said demand dipped in Japan as 2024 had partly been bolstered by higher tourist spending due to a weaker yen.

The group said Cognac sales were affected by trade tensions between Washington and Beijing.(AFP)