Amid growing geopolitical and economic challenges, Europe and the U.S. remained consistent in the first nine months of 2024, bolstered by stable local demand. While Asia notably improved in trends in 2024, Japan was down year-on-year, which had was aided by improvements in tourist spending on account of a weaker yen.
Q3 saw organic growth of 1% with improvement across all business groups and regions apart from Europe, where lower tourist spending and currency fluctuations weighed more heavily than earlier in the year.
With regards to Fashion & Leather Goods, the group reported lower revenue for the first nine months of 2025 which then improved in Q3, supported by resilient local demand after 2024’s tourism-driven growth.
Louis Vuitton showcased strong creativity with new fashion shows, the launch of La Beauté Louis Vuitton led by Dame Pat McGrath, and the debut of “The Louis” in Shanghai.
Christian Dior, under new Creative Director Jonathan Anderson, earned praise for his first collections and opened new “House of Dior” sites in New York and Beverly Hills.
Loro Piana strengthened its luxury positioning with the Ryder Cup partnership and its Milan showcase.
New creative leads at Celine, Loewe and Givenchy were well received, while Fendi named Silvia Venturini Fendi Honorary President and Maria Grazia Chiuri Chief Creative Officer.
Outlook
Despite economic and geopolitical uncertainty, LVMH remains confident, focusing on brand desirability, product quality, retail excellence and agility to strengthen its global luxury leadership in 2025.
