2025 Key Figures
- 75 Maisons
- 81 Countries
- > 211,000 Employees
- 6,283 Stores
LETTER TO SHAREHOLDERS
January 2026
Louis Vuitton
Louis Vuitton
Extract from the press release published on January 27, 2026
Bernard Arnault, Chairman and CEO of LVMH
Bernard Arnault, Chairman and CEO of LVMH, commented: “Once again in 2025, LVMH demonstrated its solidity and effective strategy upheld by its highly engaged teams. The Group was buoyed by the loyalty and growing demand shown by our local customers. This momentum was once again underpinned by the powerful desirability of our brands, which embody creative passion and the pursuit of the utmost quality, and by our ambition of offering our customers extraordinary stores and cultural experiences, as demonstrated by The Louis in Shanghai, our House of Dior stores in a number of cities around the world, and our new Tiffany & Co. locations in Milan and Tokyo. In addition to the promising new creative energy at several of our Maisons, two major initiatives were a source of pride for the Group. The first was our presence at the World Expo in Osaka, where our Maisons’ distinctive, beautifully staged displays highlighted French craftsmanship and the art of living. The second, in a different field, was the first year of our ten-year partnership with Formula 1 – an exciting opening into a world that shares our passion for excellence and innovation. In 2026, in an environment that remains uncertain, our Maisons’ ability to inspire dreams – coupled with the highest levels of vigilance with regard to cost management, and our environmental and social commitments – will once again be a decisive asset underscoring our leadership position in the luxury goods market. We will remain true to our entrepreneurial tradition as a forward-looking family group focused on sustainable creativity in high-quality products, exceptional spaces and the long-term future of our outstanding craftsmanship.”
Revenue:
80.8 billion euros
Organic growth in the second half of the year
Profit from recurring
operations: 17.8 billion euros
Free cash flow:
11.3 billion euros
Major economic and social impact in France and around the world
SOLID RESULTS IN AN UNFAVORABLE GLOBAL ENVIRONMENT
New progress made under our LIFE 360 environmental program
Major economic and social impact in France and around the world
LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury goods group, recorded revenue of €80.8 billion in 2025. LVMH showed good resilience and maintained its innovative momentum despite a disrupted geopolitical and economic environment. Europe saw a decline in the second half of the year and the United States saw growth, benefiting from solid local demand. Japan was down with respect to 2024, which had been boosted by growth in tourist spending due to the much weaker yen. The rest of Asia saw a noticeable improvement in trends with respect to 2024, with a return to growth in the second half of the year. In the fourth quarter, organic revenue growth came to 1%, in line with the third quarter.
Profit from recurring operations for 2025 came to €17.8 billion, equating to an operating margin of 22%, affected by currency fluctuations. The Group share of net profit amounted to €10.9 billion. Operating free cash flow came to €11.3 billion, up 8%.
Despite a geopolitical and macroeconomic environment that remains uncertain, the Group remains confident and will pursue its brand development-focused strategy, underpinned by continued innovation and investment as well as an extremely exacting quest for desirability and quality in its products and their distribution.
Driven by the agility of its teams, their entrepreneurial spirit and the well-diversified presence of its various business lines across the geographic areas in which its customers are located, LVMH once again sets an objective of reinforcing its global leadership position in luxury goods in 2026.
At the Shareholders’ Meeting on April 23, 2026, LVMH will propose a dividend of €13 per share. An interim dividend of €5.50 per share was paid on December 4, 2025. The balance of €7.50 per share will be paid on April 30, 2026.
2025
-1%*
2nd half
+1%*
* Organic growth with respect to 2024.
-9%
-13%
+8%
LVMH in pole position: winning performance during first season as Global Luxury Partner of Formula 1®
Since 2025, LVMH has been a Global Luxury Partner of Formula 1® under a 10-year agreement involving several iconic LVMH Maisons: Louis Vuitton, Moët Hennessy, and TAG Heuer.
The debut season superbly showcased the combination of LVMH’s incomparable savoir-faire, creativity and art-de-vivre, and Formula 1®’s renowned innovation and high-performance. Throughout the year, LVMH Maisons created exclusive experiences, custom-tailored activations and groundbreaking content, masterfully illustrating how luxury can elevate the experience for fans, motorsports lovers and guests, both on and off the circuits.
Louis Vuitton highlighted its prominent presence at each Grand Prix race with the Trophy Trunks, handcrafted in its historic Asnières workshops and presented to the winners. TAG Heuer, Official Timekeeper, embodied precision and performance with its striking official pit lane clock. Moët Hennessy celebrated victories, revisiting the cooldown room and podium ceremony.
This first season laid the foundations for a new era where luxury, sports and thrilling emotion come together at the highest level of competition. The upcoming 2026 season will welcome the second year of this unique partnership. LVMH and its Maisons are poised to enrich the Formula 1® experience even further, embodying the spirit behind the signature that defines this winning partnership: At the Speed of Dreams.
As “Victory Travels in Louis Vuitton”, the Maison partners with Formula 1® in a 10-year agreement, crafting bespoke trophy trunks for major GRAND PRIX circuits. Showcasing the Maison’s historic expertise, each trunk merges heritage with innovation. The signature “V” for “Victory” is formed on the Monogram canvas, with a nod to the circuit’s finish line — celebrating the adrenaline, prestige, and ultimate triumph of motorsport’s elite championship.
Perpetuating a long tradition savoir-faire, each trunk is handcrafted by Louis Vuitton’s master artisans in Asnières, just outside Paris.
TAG Heuer becomes the Official Timekeeper of Formula 1® again in 2025 for 10 years. On the occasion of the first GRAND PRIX of the season in Melbourne, TAG Heuer presents the official pitlane clock. This custom-engineered piece draws its inspiration from the TAG Heuer Formula 1 collection of 1986, while incorporating high-performance materials. With a diameter of 1200 mm, a fiberglass bezel, a lightweight plexiglass dial, and aluminum hands optimized for perfect readability, it ensures maximum visibility thanks to high-intensity LED lighting. Weighing only 35 kg, this clock combines robustness and lightness, while being perfectly synchronized with the official Formula 1® timing system. Before each race, it is recalibrated and adjusted to the local time, guaranteeing absolute precision on all circuits. A new demonstration of TAG Heuer's watchmaking expertise and spirit of innovation at the heart of the competition.
As the official timekeeper, the Maison has strong visibility on the tracks and beyond with activations in the Fan Zone and the Paddock Club.
TAG Heuer is also the title partner of the Monaco GRAND PRIX, now called the Formula 1® TAG Heuer Monaco GRAND PRIX.
F1 ACADEMY™ is a pioneering initiative dedicated to fostering female drivers at the highest levels of motorsport. As the Official Partner and Official Timekeeper of F1 ACADEMY™, TAG Heuer is reinforcing its commitment to shaping the future of racing, ensuring that talent—not gender—determines success on the track. Founded in 2022 and launched in 2023, F1 ACADEMY™ is an all-female single-seater racing series designed to identify, develop, and propel female drivers toward the pinnacle of motorsport. The series provides a structured platform, increasing accessibility to professional racing and creating a talent pipeline for higher levels of competition. TAG Heuer is dedicated to breaking barriers, creating opportunities, and accelerating female talent toward the pinnacle of racing.
Moët Hennessy’s partnership with Formula 1® brings the spirit of celebration to life on and off the track, crafting unforgettable experiences that blend passion, excellence, and emotion.
The Australian GRAND PRIX marks the long-awaited return of Moët & Chandon to Formula 1®, reclaiming its place at the heart of the sport’s most iconic tradition: the Podium celebration. As Formula 1® celebrates its 75th anniversary, Moët & Chandon proudly presents the Celebratory Jeroboam, seamlessly connecting the past with the present. This modern iteration of the original bottle design features two bold “MOËT” signatures above and below the label, as well as along the sides, creating a visual identity that resonates deeply with both racing insiders and fans. This moment honors the rich heritage of the Maison, embedding each celebration into the annals of sport. The reintroduction of this Jeroboam is not merely a nod to History; it is a heartfelt tribute to the spirit of collective celebration that defines Formula 1®.
Moët & Chandon also becomes the Title Partner of the 2025 Belgian GRAND PRIX at Spa-Francorchamps, now named Formula 1® Moët & Chandon Belgian GRAND PRIX 2025.
Beyond the track, the Moët Hennessy Maisons are present at the official Formula 1® events. Among them: Belvedere organizes unforgettable parties to celebrate its groundbreaking partnership as the first-ever Official Vodka of Formula 1®.
|
LVMH STOCK MARKET DATA (in euros) |
2022 |
2023 |
2024 |
2025 |
|---|---|---|---|---|
|
High (mid-session) |
758.50 |
904.60 |
886.40 |
762.70 |
|
Low (mid-session) |
535.00 |
655.00 |
565.40 |
436.55 |
|
Year-end share price |
679.90 |
733.60 |
635.50 |
645.00 |
|
Change during the year (%) |
-6.5% |
+7.9% |
-13.4% |
+1.5% |
|
Change in the CAC 40 (%) |
-9.5% |
+16.5% |
-2.2% |
+10.4% |
|
Market capitalization at Dec. 31 (EUR bn) |
342.0 |
368.0 |
318.0 |
321.0 |
Source: Euronext.
+1.5% +10.4%
€645.00
€321bnThe largest capitalization on the Paris stock market
Listed on Eurolist by Euronext Paris
CAC 40, Dow Jones Euro Stoxx 50, MSCI Europe, FTSE Eurotop 100, Global Dow and FTSE4Good.
An LVMH shareholder who invested €1,000 on January 1, 2021 would have a capital of €1,379 on December 31, 2025, based on reinvested dividends. This represents a 37.9% increase over five years, equating to an average annual return of around 6.6%.
Louis Vuitton Family house and Asnières workshops, France
The LVMH Shareholders’ Club was set up in 1994 to give individual shareholders who are particularly interested in the life of the Group a better understanding of LVMH, its businesses and its brands.
The LVMH Shareholders’ Club can be joined free of charge by any shareholder who owns at least one LVMH share listed on the Paris stock exchange.
We send Club members several publications to keep them informed of the latest news about our Maisons, such as the Annual Report, the twice-annual Letter to Shareholders and the annual issue of Apartés, our Club magazine.
Louis Vuitton Family house and Asnières workshops, France
Throughout the year, the LVMH Shareholders’ Club holds exceptional in-person and virtual private tours of a number of its Maisons, such as Louis Vuitton’s workshops in Asnières, the Dior 30 Montaigne boutique and la Galerie Dior, the historic La Samaritaine department store by the Pont Neuf, the Maison Chaumet or the Guerlain 68 Champs-Élysées flagship in Paris. Club members can also reserve guided tours of unique sites such as Hennessy’s centuries-old cellars in Cognac, Veuve Clicquot and Ruinart’s magnificent crayères in Reims, as well as Moët & Chandon and Mercier’s champagne cellars in Epernay.
In addition to special offers on a selection of the Group’s wines and spirits, for delivery in France only, Club members can purchase discounted subscriptions to Group media publications – Les Echos, Investir, Le Parisien and Connaissance des Arts – and order priority-access tickets for the Fondation Louis Vuitton.
The detailed program of the Club’s visits as well as the exclusive offer of wines and spirits, subscriptions to the Group’s newspapers and magazines and tickets to the Fondation Louis Vuitton are available via the Club’s website at www.clublvmh-actionnaires.fr/en. This private online space, dedicated to Club members, can be accessed once they have created their account.
|
April 2026 |
2026 first-quarter revenue |
|---|---|
|
Thursday, April 23, 2026 |
2026 Shareholders’ Meeting |
|
Thursday, April 30, 2026 |
Payment of the final dividend for fiscal year 2025 (last trading day with dividend rights: April 27, 2026) |
|
July 2026 |
2026 half-year revenue and results |
|
October 2026 |
2026 third-quarter revenue |
The LVMH website (www.lvmh.com) gives access to a wide range of regularly updated information on the Group and its Maisons. A section specially aimed at the financial community and LVMH shareholders features the share price in real time, its chart relative to the CAC 40, the events schedule, press releases and presentations, in particular the Shareholders’ Meeting, which can be watched live or on replay.
Communications media can be viewed in the Publications section along with the Annual Report, the Social and Environmental Responsibility Report. LVMH also sends out Group news by email to web users who sign up for Press Release and Letter to Shareholders alerts. Lastly, a Calendar alert is available for those wishing to be advised of updates to this section and receive an email reminder the day before an event.
Investor and Shareholder Relations
Phone: +33 (0)1 44 13 27 27
Shareholders’ Club
Phone: +33 (0)1 44 13 21 50
E-mail: clubactionnaires@lvmh.com