LVMH Hits €80 Billion Revenue Despite Luxury Slowdown as Kering Faces 13% Sales Drop

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3.30.2026

Quick Facts

LVMH reported €80 billion total revenue for 2025, doubling from a decade ago despite 1% organic decline
Kering appointed Renault CEO Luca de Meo as new CEO while facing 13% sales drop and Gucci restructuring
Asia showed strongest recovery for LVMH, moving from 6% decline in Q1 to 2% growth in Q4

Europe’s biggest luxury conglomerates are overhauling their strategies as a global demand slump forces portfolio reviews and leadership changes across the sector.

LVMH reached €80 billion in total revenue for 2025, doubling from a decade ago. But the world’s largest luxury group still posted a 1% organic decline for the year. Operating profit dropped 9% to €17.7 billion while net profit fell 13% to €10.9 billion.

The second half showed signs of recovery with 1% organic growth. Asia excluding Japan led the turnaround, shifting from a 6% decline in Q1 to 2% growth in both Q3 and Q4. The United States stabilized from a 6% Q1 decline to flat performance by Q4.

Bernard Arnault, LVMH chairman and CEO, described 2025 as “turbulent economically, geopolitically” and warned 2026 “is not going to be very simple either.” He emphasized the company’s long-term approach: “We’re a family group. We’re not riveted to quarterly results.”

Kering faced steeper challenges with revenues declining 12% to €17.2 billion in 2024. The group announced a 13% sales drop and more than tenfold decline in net profit for 2025. Gucci, its flagship brand, suffered a 23% revenue decrease in 2024.

The French conglomerate installed Renault CEO Luca de Meo as its new chief executive while François-Henri Pinault remains chairman. De Meo noted changing consumer behavior in China: “We’re no longer seeing the kind of almost binge-like consumption we saw ten years ago.”

Kering reshuffled creative directors across its portfolio. Demna Gvasalia replaced Sabato De Sarno at Gucci in March 2025, while Louise Trotter took over Bottega Veneta from Matthieu Blazy.

Richemont outperformed competitors with expectations-beating December quarter results showing 4% sales growth. The Cartier owner reported double-digit growth in Europe, the Americas and Middle East.

The luxury market totaled €1.48 trillion globally in 2024, a slight decrease from the previous year. Economic uncertainties, reduced consumer spending and market saturation contributed to the slowdown.

Kering created a new jewelry division combining Boucheron, Pomellato, Dodo and Qeelin to pool resources. The company also regrouped fashion brand reporting to shield smaller labels from investor scrutiny.