The French fashion house bucked the slump in the luxury industry and continued to grow in 2025. It did, however, cut shareholder dividends by nearly half, even though these remain among the highest in the sector.
LVMH has increased its stake in Francis Kurkdjian, which is now directly presided over by the head of the luxury giant's beauty division. The changes come at a time when the perfume house is for the first time experiencing a drop in revenues.
LVMH's champagne brands, like the rest of its wines and spirits business, have not been performing well of late. In the hope of reversing the trend, the leading champagne houses are now banking on wine tourism.
The fashion house, which has been struggling to return to growth for several years, is now facing considerable losses year on year. Its latest results reveal skyrocketing debts, which are going to force Kering to inject fresh capital.
It was meant to be LVMH's London showpiece: a luxury hotel just a stone's throw from Bond Street. Scheduled to open in 2022, it was quietly scrapped by the fashion giant, and the site was taken over by an enigmatic fund, behind which Glitz has identified a well-known British political figure.