In a strained global macroeconomic environment, LVMH has once again demonstrated the resilience of its diversified, multi-sector business model. While full-year 2025 results showed a modest decline compared with the previous year, the Group delivered strong cash-flow performance and maintained the enduring appeal of its portfolio of brands. The Group reported revenue of €80.8 billion, reflecting an organic decline of 1%. On a reported basis, sales fell by 5%, a decrease almost entirely attributable to unfavourable currency effects, as the strengthening euro weighed on the conversion of international revenues. Despite ...