Overview
- LVMH reported on Monday that organic group sales rose about 3% in Q2 to €19.5 billion and that its fashion and leather goods unit returned to growth with a 1% increase.
- Hard-luxury categories led the quarter with watches and jewellery up roughly 11% and wines and spirits up about 5%, while perfumes and cosmetics slipped around 1%.
- The company said U.S. sales climbed about 6% and that newly created wealth from the tech and AI boom helped fuel affluent American spending.
- LVMH warned the Iran war cut roughly one percentage point from growth and disclosed first-half operating profit fell about 4% to €8.7 billion even as operating margin held near 22.5%.
- Peer Kering posted modest sequential gains with comparable sales up 1–2% and Gucci’s decline narrowing to about 2%, but investors remain cautious as shares are down sharply year-to-date and H2 comparisons grow tougher.