# LVMH 2026 H1 results amid Middle East conflict > Live situation record from CLSTR: https://clstr.news/situations/lvmh-2026-halfyear-performance-and-share-slump > Updated: 2026-08-03T07:44:16.000Z. Sources: 55. Developments: 4. LVMH’s first‑half 2026 revenue stood at €38.6 billion, a 3 % year‑on‑year decline, reflecting a challenging geopolitical environment, notably the conflict in the Middle East. Operating profit was €8.7 billion, delivering a 22.5 % margin, while net profit remained €5.7 billion, about €0.5 billion below analysts’ expectations. Organic revenue grew 3 % in Q2 and would have risen 4 % if the conflict’s impact were excluded. The performance was buoyed by strong sales at Christian Dior, new Louis Vuitton stores in Beijing and Seoul, and continued growth in the Tiffany & Co. and Bvlgari lines, alongside higher sales of Sephora, champagne and cognac. The fashion and leather‑goods segment added 1 % to €8.9 billion, ending a multi‑quarter decline, while watches‑and‑jewellery grew 11 % on the back of its high‑margin brands. The group’s share price remains about 50 % below its 2023 peak, though analysts see upside from stabilising demand in the United States and early recovery signs in China and Europe. Marie Brizard Wine & Spirits, an LVMH subsidiary, reported a 3 % revenue drop to €84 million, with a modest Q2 rebound driven by French gastronomy sales and new product launches. ## Claims - LVMH reported first‑half 2026 revenue of €386.44 billion, down 3 % year‑on‑year, with organic growth of 2 %. (corroborated by 3 sources) - Kering (Richemont) reported H1 2026 revenue of €72.20 billion, down 3 % YoY, and net profit of €1.89 billion, a 60 % decline. (corroborated by 2 sources) - Hermès posted H1 2026 revenue of €81.63 billion, up 6.1 % YoY, with an operating profit margin of 41 %. (single source) - LVMH’s fashion and leather‑goods division saw organic revenue fall 1 % to €181.46 billion in H1 2026. (single source) - LVMH’s watches and jewellery segment grew 11 % organically in H1 2026. (single source) - LVMH’s shares have fallen about 26 % since the start of the year, giving a market value near €230 billion. (single source) - Dior’s Q2 sales grew double‑digit percentages in the United States and Japan. (single source) - Kering’s Gucci brand sales declined 5 % year‑on‑year in H1 2026. (single source) ## Timeline ### 2026-08-03: LVMH reports 3% H1 2026 revenue dip as Middle East conflict pressures luxury sector LVMH's H1 2026 revenue fell 3% to €38.6bn amid Middle East conflict, while Marie Brizard's sales slipped 3% to €84m but rose 2.2% in Q2, driven by French gastronomy. 2 sources. https://clstr.news/cluster/lvmh-reports-3-h1-2026-revenue-dip-as-middle-east-conflict-pressures-luxury-sector ### 2026-07-31: LVMH posts modest H1 2026 growth as luxury market splits between hard and soft goods LVMH’s H1 2026 revenue rose 2 % to €38.6 bn, profit missed forecasts, and analysts see upside as luxury splits between hard‑goods growth and soft‑goods weakness. 4 sources. https://clstr.news/cluster/lvmh-shares-near-half-of-peak-valuation-after-q2-earnings ### 2026-07-29: LVMH’s modest growth fails to lift its share price LVMH posted modest Q2 growth and strong H1 profit, yet its shares stay near six‑year lows, prompting analysts to see an undervalued discount amid macro headwinds. 4 sources. https://clstr.news/cluster/lvmhs-modest-growth-fails-to-lift-its-share-price ### 2026-07-27: LVMH First‑Half 2026 Results Show Modest Revenue Decline and US‑Led Growth LVMH’s H1 2026 revenue fell 3% to €38.6 bn; profit €8.7 bn, margin 22.5%. Fashion & leather goods up 1% (minus 1 pp from Iran war), watches +11%, U.S. sales +6%, overall Q2 sales +3% to €19.5 bn. Shares down 28 46 sources. https://clstr.news/cluster/lvmh-posts-stable-h1-2026-results-with-modest-growth-and-us-demand-boost --- Cite as: LVMH 2026 H1 results amid Middle East conflict. CLSTR, https://clstr.news/situations/lvmh-2026-halfyear-performance-and-share-slump