LVMH organic growth in Q3 2025: steady recovery
- October 14, 2025
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- Posted by: Andrés David Vargas Quesada
In the third quarter of 2025, LVMH organic growth reached 1%, generating revenues of €18.28 billion. This result signals stabilization after months of macroeconomic and geopolitical challenges. In this context, the group reaffirms its strategic conviction in a diversified portfolio and the innovative strength of its brands.
Performance by divisions
- Fashion and Leather Goods: The division reported a 2% organic decline, largely due to a challenging comparison base following the sharp tourism rebound in Japan during 2024. Nevertheless, Louis Vuitton maintained its creative momentum with launches such as La Beauté Louis Vuitton.
- Selective Retailing: This was the strongest performing division, posting 7% organic growth thanks to solid results from Sephora and improved DFS operations, particularly in Asia (Macau and Hong Kong).
- Watches and Jewelry: Recorded 2% growth, driven by Tiffany & Co. and Bvlgari, both of which benefited from new watch creations showcased at the Geneva Watch Days.
- Perfumes and Cosmetics: Also up 2%, supported by new launches from Dior, Guerlain, and Givenchy.
- Wines and Spirits: Achieved modest 1% growth, with Champagne and Provençal rosé wines showing steady improvement.
Cumulative results and context
During the first nine months of 2025, LVMH reported total revenues of €58.1 billion, reflecting a 2% organic decline.
Despite this, the company maintains an optimistic outlook based on brand strength, team resilience, and continuous innovation.
No financial guidance adjustments were announced, although the company acknowledges that the global economic and geopolitical environment remains uncertain.
Challenges and key factors to monitor
Among the main challenges are foreign exchange headwinds—particularly negative in the quarter (-5%)—and macroeconomic pressures in key markets.
The Fashion and Leather Goods division continues to face challenges, requiring more aggressive creative and commercial strategies to regain momentum.
Conversely, selective retailing, watchmaking, and perfumes act as growth drivers, partially offsetting the weakness in fashion.
This report confirms that LVMH organic growth has returned, albeit moderately. The group’s diversified structure has allowed it to cushion sector-specific slowdowns. While fashion and leather goods remain under pressure, the strong performance of selective retailing and watchmaking suggests a path toward a more sustained recovery. The outlook remains complex, but LVMH’s strategy and creativity position it well for the remainder of the year.
