Slight sales dip for luxury juggernaut

Luxury leader Louis Vuitton Moët Hennessy (LVMH) has reported a slight decline in revenue among its jewellery and watch brands over the past financial year.

LVMH oversees the operations of more than 70 brands, including Tiffany & Co., Bulgari, Kering, and TAG Heuer. Revenue decreased by 1 per cent, finishing at €10.49 billion ($AUD17.83 billion) for the year.

These figures come despite a strong performance among jewellery and watch brands in the fourth quarter, with sales improving by 8 per cent. LVMH chair Bernard Arnault said that influential factors, including US tariffs, have complicated the provision of a confident outlook for the year ahead.

“I always say that in our businesses, I am optimistic in the medium-term, but short-term it is very difficult to provide a serious forecast,” Arnault said.

“So many events and the pace of decisions taken left and right in the various countries, it is extremely difficult to control all these geo-economic impacts on our companies.”

LVMH’s group revenue decreased by 5 per cent, closing the year at €80.81 billion ($AUD137.62 billion). Net profit declined by 13 per cent.