LVMH Reports Q1 Revenue Decline

French luxury giant LVMH Moet Hennessy Louis Vuitton announced a 2% decrease in first-quarter revenue, totaling €20.3 billion compared to the previous year. Despite the overall dip, the company's fashion and leather goods segment remained a strong performer, contributing €10.1 billion to the revenue.

Segment and Regional Performance

The wines and spirits division experienced the most significant annual decline at 9%. Geographically, Europe was the standout region, posting a 2% growth. "Europe's growth was consistent, while the U.S. saw a slight decline despite strong performances in key segments. Japan's figures fell compared to the previous year, influenced by changes in Chinese consumer spending. The rest of Asia mirrored 2024's trends," LVMH elaborated in its report.