THE WHAT? LVMH has reported a 1 percent increase in organic revenue for the third quarter of 2026, supported by growth in its Perfumes & Cosmetics and Selective Retailing divisions, despite weaker demand in China.
THE DETAILS LVMH recorded third-quarter revenue of €18.5 billion, bringing sales for the first nine months of 2026 to €57.1 billion, representing organic growth of 2 percent. The Perfumes & Cosmetics division generated €2.01 billion in third-quarter revenue, with organic growth of 1 percent, while nine-month revenue reached €5.92 billion, remaining stable on an organic basis. Parfums Christian Dior benefited from launches including J’adore Intense, Sauvage Extrait and Dior Addict, alongside strong makeup performance from Forever and Backstage. Guerlain reported substantial growth, supported by its fragrance portfolio and Rouge G lipstick. Selective Retailing achieved organic growth of 8 percent in the third quarter, with Sephora continuing to gain market share through established brands, exclusive launches including Rhode and Chinese beauty brands, and expansion into Belgium and Croatia.
THE WHY? The results highlight the resilience of prestige beauty and specialist beauty retail within the wider luxury market, with Sephora’s continued expansion and LVMH’s fragrance and makeup innovation supporting growth despite softer Chinese consumer demand and a 5 percent organic decline in Fashion & Leather Goods during the quarter.
Source: LVMH
