Key takeaways on LVMH financial results in 2025
- LVMH’s Perfumes & Cosmetics division reported 0% sales growth in 2025 but achieved an 8% rise in profit with improved operating margins.
- Dior remained the leading growth driver, supported by new fragrance launches and strong colour cosmetics innovation.
- Other brands contributing to performance included Guerlain, Givenchy and Maison Francis Kurkdjian.
- The division emphasised innovation and selective retail but made no reference to skincare or APAC performance.
- Sephora delivered 4% organic growth, expanded globally, and continued to gain market share.
French multinational LVMH reported its sales figures for 2025, which showed 0% year‑on‑year growth for its Perfumes & Cosmetics division. However, profit grew by 8% and operating margins rose to 8.9%.
The profit growth is likely to have been driven by cost‑cutting, reduced marketing or promotional spend, better pricing discipline, and a greater focus on hero products.
Dior leads the division with strong fragrance and colour launches
LVMH Perfumes & Cosmetics’ performance was mainly driven by the success of its Dior brand, with notable fragrance launches including Miss Dior Essence and Dior Homme, and with Sauvage remaining the world’s best‑selling men’s fragrance. There was also strong innovation in colour cosmetics.
Other brands that contributed to growth included:
• Guerlain, boosted by Aqua Allegoria and L’Art & La Matière
• Givenchy, which launched a new version of L’Interdit
• Maison Francis Kurkdjian, highlighted through a retrospective exhibition
The company emphasised its “robust innovation policy” and “highly selective retail approach”, but there was no mention of its Fenty Beauty brand, no mention of skincare sales – only colour cosmetics and fragrance – and no focus on the APAC market.
Selective retailing accelerates as Sephora expands globally
The Selective Retailing business group, which includes Sephora, posted organic revenue growth of 4% in 2025. The company said that Sephora continued to achieve solid growth in both revenue and profit, saw further market share gains in many countries, and opened around a hundred stores in 2025.
Bernard Arnault, Chairman and CEO of LVMH, commented on the company’s performance: “In 2026, in an environment that remains uncertain, our Maisons’ ability to inspire dreams – coupled with the highest levels of vigilance with regard to cost management, and our environmental and social commitments – will once again be a decisive asset underscoring our leadership position in the luxury goods market.”
Arnault added that the firm will “remain true to its entrepreneurial tradition as a forward-looking family group focused on sustainable creativity in high-quality products, exceptional spaces and the long-term future of our outstanding craftsmanship.”