WINES & SPIRITS GOOD RESILIENCE IN CHAMPAGNE; WEAKER DEMAND FOR COGNAC
Dom Pérignon
Revenue €5,358m -5% vs 2024(1)
Profit from recurring operations €1,016m -25% vs 2024
Operating margin 19.0%
(1) On a constant consolidation scope and currency basis
Dom Pérignon
Revenue for Wines & Spirits was down 5% (organic) in 2025. Profit from recurring operations was down 25%.
2025 confirmed the slowdown in demand observed since 2023, following several exceptional years. The impact on customers of trade tensions also weighed on the key markets of China and the United States. LVMH’s champagne houses maintained their market share of 22% of all Champagne-appellation shipments, and Provence rosé wines continued to outperform the rosé category worldwide. Revenue for Hennessy cognac was held back by weaker local demand, mainly due to issues with customs duties in China and the United States. The Wines & Spirits Maisons continued to invest in the long-term desirability of their brands and launched a program aimed at boosting efficiency and reducing costs.