Revenues of LVMH Moët Hennessy Louis Vuitton increased by 1.4 per cent to €20.98 billion during Q2, FY 25. On a Y-o-Y basis, the company’s revenues during the quarter ended June 30, 2024 increased by 1 per cent, marking a decline from the first quarter where revenues had increased by 3 per cent. 

Sales from the company’s fashion and leather goods (FLG) division rose by 1 per cent to €10.28 billion on a like-for-like basis compared to the same period last year. However, this was below the Visible Alpha forecast, which anticipated a 2 per cent increase. The division faced a ‘substantial’ negative impact from exchange rate fluctuations during the first half of the year. Despite a 6 per cent decline in profit from recurring operations for FLG, the operating margin remained at historically high levels, particularly for flagship brands Louis Vuitton and Dior.

Missing analysts’ expectations, LVMH reported a net profit of €7.27 billion during H1, FY24. The company’s profit from recurring operations decreased by 8 per cent to €10.65 billion, resulting in an operating margin of 25.6 per cent. In response to these challenges, LVMH recently undertook a management reshuffle in its watches and jewelry division, appointing new chief executive officers at Hublot and Tag Heuer.