LVMH First Half Revenue Reaches €38.644 Billion

Financial markets news on July 29 indicated that LVMH Moët Hennessy Louis Vuitton has recently released its financial results for the first half of the 2026 fiscal year. In the first half, the group's total revenue stood at €38.644 billion, reflecting a 3% year-on-year decline but a 2% increase on an organic basis. Recurring operating profit was €8.691 billion, down 4% year-on-year, while net profit attributable to the group reached €5.697 billion, stable compared to the same period last year. Free cash flow from operations grew by 2% to €4.1 billion, and the operating margin remained steady at 22.5%.

Growth accelerated in the second quarter, with organic revenue rising by 3%. Specifically, the Watches and Jewelry division posted an 11% organic growth, and the Fashion and Leather Goods segment recovered to 1% organic growth. Beauty retail brand Sephora maintained steady expansion, while Champagne and Cognac businesses also showed signs of recovery.

Asian Markets Continue Recovery

Markets in China and the broader Asian region continued to recover. In the first half, the Asian market (excluding Japan) achieved strong growth, extending the recovery trend observed since the second half of 2025. Hennessy Cognac sustained its positive momentum in the Chinese market, which began during the Spring Festival period. The new flagship store of Louis Vuitton in Beijing performed exceptionally well, becoming one of the factors driving the group's second-quarter growth. Additionally, duty-free retailer DFS has completed the sale of its Greater China operations to China Tourism Group Duty Free.

CEO Comments on Strategic Strength and Future Outlook

Bernard Arnault, Chairman and Chief Executive Officer of LVMH, stated that the group has demonstrated solid financial strength and strategic effectiveness. He noted that the group's brands continue to focus on the highest quality and promote creative renewal. The success of Louis Vuitton new stores in Beijing and Seoul, new designs from Dior, and the iconic collections from Tiffany and Bvlgari collectively contributed to the second-quarter growth. Arnault added that the group will continue to closely monitor profit margins and enter the second half of the year with increased confidence. He expressed belief in the long-term potential of its brands and the capabilities of its teams to further consolidate LVMH's industry leadership position.