LVMH leads European luxury slump with record 28% quarterly decline
LVMH Moët Hennessy-Louis Vuitton (LVMHF) has reported a record 28% decline in Q1 2026, the worst start for any major European luxury brand, surpassing declines during past crises. This downturn reflects the impact of the Middle East conflict on luxury consumption, particularly in travel and tourism. The Consumer Discretionary sector also suffered, with a 10.72% decline. Despite a forecasted slight revenue increase, LVMH's share price drop has cost CEO Bernard Arnault $55.9 billion in net worth. Analysts warn of ongoing challenges, including foreign exchange and tariff impacts, particularly in the Wine & Spirits division.
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