LVMH slides sales 3% because luxury buyers come face to face with the uncertainty of tariff

Paris-based luxury giant LVMH reported 20.3 billion euros ($ 23 billion) lucrative In 2025, below 3% of the year. Figures slide shortly from 2% increase with Visiblelapha consensus assessments.

As in the last quarters, the wine and spirit department with Moët & Chandon and Heuve Clickquot brands reduced 9% per annum compared to the annual year. Meanwhile, the label heuer and the bulger was the only segment that will not decrease in organic terms remaining in the apartment in the apartment in the apartment in the apartment in the first quarter.

The biggest topic in the minds of the global scale is the tariffs that passed the threat A policy that covers all Earlier, President Donald was re-collected them in April before Trump. During the call of LVMH’s earnings, the company also said that despite the uncertainty related to the tariff, the American demand is strong during the first quarter.

“For years, exceptional growth, (a) is the best way to focus on the period of landing. It is also a time to demonstrate our agility and regulation ability and reaction.” Said Lvmh CFO Cecile Cabanis.

He added that the company has not yet seen a significant impact on tariffs, although the “willing customer is more sensitive in less positive economic periods.”

LVMH Chairman and CEO Bernard Arnault, a French company recognizing the United States lost the negative shock of tariffs “good-natured“Arnault in the presidential ceremony at the present ceremony earlier this year,” Trump’s inauguration ceremony, Arnault, the groups used more than luxury goods.

“It is clear that the American authorities are strongly pushed to continue developing our existence. In the current context, this is something we look strictly,” Arnaault said earlier this year According to Reuters.

LVMH employs 40,000 people in three Louis Vuitton factory.

Cabanis said that the company is in the American market in the United States, but not all. It gives a little more room to maneuver in LVMH tariffs.

There are 75 brands and have a French conglomera with a sector call It was slow to heal from the demand for luxury goods. This increased by 2% to $ 88 billion in the 2024 sales of the company, even in the fourth quarter.

Again, a few recovery signs, in Japan and a strong shopping appetite in Japan and the sale of LVMH, respectively, amounted to 9% and 25% of LVMH.

LVMH is the first basic luxury group to release the first quarter results, builds tones for what the rest of the sector can face. The company’s shares have been worth $ 15 billion in the same period since 17% since 2025.

A luxury rebound? Still

In a rocky few years, Luxury market This year, he hoped to turn a corner, inflation and interest rates to turn from a corner in the rear view mirror. This will help European players, as shares in luxury companies have fallen more than 8.5%.

American consumers would be saviors, as a result of the sliding from the Sector 2025 or 2026, as McKinsey’s Luxury League Gemma d’Auria January sheet. However, President Trump tariffs declare a tariff, no longer appear in the eyes.

The American luxury consumption was sufficient to eliminate the expected weakness in Chinese and European luxury, but recently told the Bernstein Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Sola Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Sola Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo Solo League.

Such variability may affect the worst of the worst of the United States among the most exposed companies

Luxury goods are made in France and Italy, and high-level watches are swimming. These countries are now faced with 10% more trade-down tariffs than the initial prisons of Trump, but are still higher than before.

Analysters are afraid of how many tariffs will affect Consumer thinking If the luxury giants will take additional costs to buyers. Thousands of euros in a recession, bags and shoes can also entertain people enough.

“A recession for luxury is bad because they need to feel consumers who spend money in the luxury. So you will see that the luxury goods industry is cyclic. Fortune in an email.

HSBC is now waiting for organic luxury sales compared to previous prices of 5% annual growth, this Financial times declare.

This story was first displayed Fortune.com

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