THE WHAT? LVMH has reported solid first-half 2026 results, with second-quarter growth accelerating despite ongoing geopolitical and economic uncertainty, supported by strong performances across its beauty, jewellery and selective retail businesses.
THE DETAILS The luxury group generated first-half revenue of €38.6 billion, with organic sales growth of 2% for the period and 3% in the second quarter. Within its Perfumes & Cosmetics division, organic revenue remained stable despite a slight second-quarter decline, supported by new launches from Parfums Christian Dior, continued growth at Guerlain, Maison Francis Kurkdjian and Acqua di Parma, and strong momentum in Dior makeup. Sephora continued to deliver sustained growth, while Tiffany & Co. and Bulgari recorded double-digit gains in jewellery. LVMH said growth accelerated in the United States and Asia, supported by creative renewal across key brands and continued investment in premium retail experiences.
THE WHY? The results demonstrate the resilience of the global luxury beauty market despite macroeconomic pressures, highlighting the importance of premium product innovation, selective distribution and omnichannel retail. Continued investment in flagship beauty brands and retail concepts remains central to LVMH’s strategy for maintaining long-term growth and market leadership.
Source: LVMH
