Luxury bellwether LVMH drops 8% on sales miss, dragging peers down
- LVMH reported a 2% sales drop to 20.3 billion euros due to U.S. Tariffs impacting the global economy.
- The wine and spirits sector faced an 8% decline, particularly due to lower demand in the United States and China.
- LVMH's Chief Financial Officer, Cecile Cabanis, called for calm during these uncertain times and expressed hope for tariff negotiations.
- French President Emmanuel Macron encouraged French businesses to halt investments in the U.S. Amid the tariff situation.
103 Articles
103 Articles
Hermès leapfrogs LVMH to become Europe's most valuable luxury company after the Louis Vuitton owner reported downbeat results
Hermès overtook rival luxury purveyor LVMH after the Bernard Arnault-run company reported a lackluster start to 2025 with a drop in sales. Hermès’ market capitalization eclipsed LVMH’s on Tuesday morning by around €210 million, making the Birkin bag maker the most valuable luxury company in Europe, and on France’s CAC40 index. As of 11.30 a.m. London time, Hermès’ market value was €248.2 billion while LVMH’s was €246.8 billion. LVMH’s shares we…
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