LVMH reports 3% H1 2026 revenue dip as Middle East conflict pressures luxury sector

LVMH posted first‑half 2026 revenue of €38.6 billion, down 3% year‑on‑year, citing a challenging geopolitical and economic environment, especially the conflict in the Middle East. Operating profit was €8.7 billion with a 22.5% margin and net profit remained €5.7 billion. Organic revenue grew 3% in Q2 and would have risen 4% if the conflict’s impact were excluded, driven by strong performance of Christian Dior, new Louis Vuitton stores in Beijing and Seoul, and the Tiffany & Co. and Bvlgari lines, as well as growth in Sephora, champagne and cognac.

Marie Brizard Wine & Spirits recorded a 3% decline in first‑half revenue to €84 million. In Q2, sales rose 2.2% to €45.3 million, helped by a 16% jump in French gastronomy sales, boosted by the Marie Brizard brand and a new rum‑distribution agreement. New products also supported Marie Brizard and Sobieski. International sales fell 5.8% in H1, but the slowdown eased in Q2, with only a 0.3% decline.