EconomyLens.com
No Result
View All Result
Friday, July 11, 2025
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Business

LVMH sales dip as Trump tariffs dent luxury tastes

David Peterson by David Peterson
April 15, 2025
in Business
Reading Time: 5 mins read
A A
0
39
SHARES
471
VIEWS
Share on FacebookShare on Twitter

LVMH tycoon Bernard Arnault saw luxury sales fall in the first quarter amid concerns over US tariffs. ©AFP

Paris (AFP) – Luxury giant LVMH saw sales fall two percent to 20.3 billion euros ($23 billion) in the first quarter of 2025 as US President Donald Trump’s tariffs shook the global economy, the company said on Monday. The producer of Louis Vuitton bags and Dom Perignon champagne, owned by Europe’s richest man Bernard Arnault, generates a quarter of its revenue in the United States.

Related

Fuel to Air India jet engines cut off moments before crash: probe

London’s Heathrow eyes higher fees for £10bn upgrade

Barry Callebaut cuts outlook as chocolate sales volumes melt away

Shein faces 150-mn-euro fine in France

Italy probes UK online bank Revolut for ‘misleading’ clients

Despite putting up decent numbers in fashion, watches, and jewellery in the country, LVMH saw a “slight decline” in overall US sales, the firm said in a statement — without giving a figure for that fall. In his so-called April 2 “Liberation Day,” Trump announced a slew of tariffs on trading partners across the world, including a 20-percent duty on European Union goods, before backtracking and suspending their implementation for 90 days.

“We all need to…stay very calm because we are in unknown territories,” LVMH’s chief financial officer Cecile Cabanis told analysts. “The worst is never certain.” Arnault and two of his children were among prominent figures at Trump’s inauguration in January. He said in February that he did not want to talk about tariffs and would “prefer to try and act calmly.”

Arnault did acknowledge that LVMH had been “heavily solicited” to step up its production presence in the United States and this was being “seriously considered.” Since tariffs were announced by Trump, however, French President Emmanuel Macron has called on French businesses to suspend investment in the United States. Cabanis said that the group could step up production of Louis Vuitton and Tiffany goods in the United States, where about a third of demand was locally produced. But she indicated there could also be price increases for consumers.

She said LVMH hoped that the suspension of tariffs would “enable some negotiation and bring some …positive outcome.” Wine and spirits was the worst-affected sector for the maker of Moet & Chandon champagne and Hennessy, plummeting eight percent across the world, dragged down in particular by the cognac market. In 2024, the United States accounted for 34 percent of LVMH’s wine and spirits sales of 5.86 billion euros.

“Cognac was held back by weaker demand in China and the United States,” LVMH acknowledged. The group behind Loewe and Dior likewise saw its worldwide fashion and leather goods revenue fall by four percent in the first quarter to 10.1 billion euros. However, perfumes and cosmetics revenue held steady at 2.17 billion euros, as did its watches and jewellery business at 2.48 billion euros.

© 2024 AFP

Tags: Donald TrumpLVMHtariffs
Share15Tweet10Share3Pin4Send
Previous Post

Argentina’s peso sinks after currency controls eased

Next Post

Meta news ban intensifying Canadians’ legacy media break

David Peterson

David Peterson

Related Posts

Business

Starbucks receives bids for stake in China business: US media

July 10, 2025
Business

In Indonesia, a start-up captures coolants to stop global warming

July 10, 2025
Business

Starbucks receives bids for stake in China business: US media

July 10, 2025
Business

Lidl owes French rival $50 mn after ads ruled deceptive

July 10, 2025
Business

Mattel launches Barbie doll with diabetes

July 9, 2025
Business

United Airlines to resume US service to Tel Aviv

July 8, 2025
Next Post

Meta news ban intensifying Canadians' legacy media break

Chinese EV battery giant CATL posts 33% surge in Q1 profit

China's economy likely grew 5.1% in Q1 on export surge: AFP poll

S. Korea plans extra $4.9 bn help for chips amid US tariff anxiety

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

New York ruling deals Trump business a major blow

72

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

Boeing evades MAX crash trial with last-minute settlement

July 11, 2025

Fuel to Air India jet engines cut off moments before crash: probe

July 11, 2025

France probes X over claims algorithm enabled ‘foreign interference’

July 11, 2025

Stocks fall as Trump ramps up tariff threats

July 11, 2025
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.