LVMH (MC.PA): Fashion & Leather sales fall 5% as Q3 growth slows to 1%
Image: AI-generated image (ElevenLabs)
LVMH's Q3 organic sales grew just 1%, down from 3% in Q2. Fashion & Leather Goods, its biggest division, fell 5% as weaker China demand outweighed US strength; Selective Retailing rose 8%. Nine-month sales were €57.1B, up 2% organically. $MC.PA
Why it matters Fashion & Leather Goods is LVMH's largest division, so a 5% organic drop weighs on the group. Deutsche Bank said the miss could mean further cuts to 2026 and 2027 earnings forecasts, though it calls the weakness cyclical rather than structural.
What we verified FashionUnited and IndexBox both report Q3 organic growth of 1%, Fashion & Leather Goods -5%, Watches & Jewelry +6% and Selective Retailing +8%, with nine-month revenue of about €57.1B (+2% organic). Both cite weaker China demand against solid US, Europe and Japan.
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