Louis Vuitton vs LVMH: Revenue, Profit and Business Model
A full-year revenue figure is unavailable here for Louis Vuitton. LVMH had ~$91.3B of annual revenue in FY2025 and ~$12.3B of net income.
Latest financial snapshot
Louis Vuitton
A revenue or profit figure is unavailable here for Louis Vuitton.
LVMH
- Latest annual revenue
- ~$91.3B (FY2025)
- Net income
- ~$12.3B
- Net margin
- 13.5%
- Revenue growth
- +8.9% a year, FY2016–FY2025
Financial summary
Louis Vuitton
LVMH does not disclose Louis Vuitton's revenue or margin, so any precise standalone figure is an estimate. The reported proxy is the Fashion & Leather Goods business group, which also contains Dior, Celine, Loewe, Fendi, Givenchy, Loro Piana and others: ~$47.7 billion (€42.169 billion) of revenue in 2023, ~$46.4 billion (€41.060 billion) in 2024 and ~$42.7 billion (€37.770 billion) in 2025, with recurring operating profit falling from ~$19 billion (€16.836 billion) to ~$14.9 billion (€13.209 billion). In H1 2026 the group posted ~$20.5 billion (€18.146 billion) of revenue (versus ~$21.6 billion (€19.115 billion) a year earlier) and ~$7 billion (€6.195 billion) of recurring operating profit, a margin of about 34%. LVMH said the segment returned to organic growth of 1% in Q2 2026, helped by a fast acceleration in the United States.
LVMH
LVMH's revenue roughly doubled over the decade to 2025 but has eased since the 2023 peak of ~$97.4 billion (EUR 86.2 billion). 2025 revenue was ~$91.3 billion (EUR 80.8 billion) (down 5% reported, 1% organically), profit from recurring operations fell 9% to ~$20.1 billion (EUR 17.8 billion) for a 22% margin, and group-share net profit was ~$12.3 billion (EUR 10.9 billion). In the first half of 2026 revenue was ~$43.6 billion (EUR 38.6 billion) (down 3% reported but up 2% organically), recurring operating profit was ~$9.83 billion (EUR 8.7 billion) (22.5% margin), net profit was flat at ~$6.44 billion (EUR 5.7 billion), and net financial debt fell to ~$9.27 billion (EUR 8.2 billion). LVMH Moët Hennessy Louis Vuitton is the undisputed leader in global luxury, sustaining a colossal market valuation that often surpasses $400 billion.
Revenue and profit by year
Louis Vuitton
A revenue figure is unavailable here for Louis Vuitton. What is known about its finances is in the summary above.
LVMH
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$91.3B | ~$12.3B | 13.5% | -4.6% | Source |
| FY2024 | ~$95.7B | ~$14.2B | 14.8% | -1.7% | Source |
| FY2023 | ~$97.4B | ~$17.1B | 17.6% | +8.8% | Source |
| FY2022 | ~$89.5B | ~$15.9B | 17.8% | +23.3% | Source |
| FY2021 | ~$72.6B | ~$13.6B | 18.7% | +43.8% | Source |
| FY2020 | ~$50.5B | — | — | -16.8% | Source |
| FY2019 | ~$60.6B | — | — | +14.6% | Source |
| FY2018 | ~$52.9B | — | — | +9.8% | Source |
| FY2017 | ~$48.2B | — | — | +13.4% | Source |
| FY2016 | ~$42.5B | — | — | — | Source |
Where the revenue comes from
Louis Vuitton
- Leather goods~45%
Leather goods
- Fashion and shoes~25%
Fashion and shoes
- Accessories~15%
Accessories
- Fragrance and licensing~10%
Fragrance and licensing
LVMH
- Fashion and Leather Goods
Not formally reported
Louis Vuitton, Christian Dior, Fendi, Celine, Loewe, Givenchy, and other fashion maisons.
- Selective Retailing
Not formally reported
Sephora, DFS, and other selective retail operations.
- Watches and Jewelry
Not formally reported
Tiffany & Co., Bulgari, TAG Heuer, Hublot, Zenith, Chaumet, and Fred.
- Perfumes and Cosmetics
Not formally reported
Dior, Guerlain, Givenchy, Benefit, Fresh, Fenty Beauty, and other beauty brands.
- Wines and Spirits
Not formally reported
Moet & Chandon, Hennessy, Veuve Clicquot, Dom Perignon, Krug, and other wine and spirits brands.
Business model and strategy
Louis Vuitton
How it makes money
Louis Vuitton makes money by selling its own products at full price through channels it controls: a global network of directly operated boutiques, flagship 'maisons' such as the new Beijing and Seoul stores, and its e-commerce site. It does not rely on department-store wholesale, so it keeps the retail margin and controls presentation, pricing and client data.
Growth strategy
Beccari's playbook is to keep LV's scale while making the experience feel more exclusive. Practical levers include larger 'cultural' flagships (Beijing and Seoul were singled out by LVMH for excellent performance in H1 2026), category extension into high jewelry, watches and beauty, celebrity-led menswear under Pharrell Williams since 2023, Nicolas Ghesquière's women's collections, and heritage moments such as the Mo…
Competitive advantage
Louis Vuitton's edge comes from 170 years of trunk-making heritage, one of the most recognised trademarks in fashion, and near-total control of its distribution and pricing. Because it sells through its own stores and avoids markdowns, customers see consistent prices worldwide, which supports resale values and brand trust.
LVMH
How it makes money
LVMH is a holding company for more than 75 maisons grouped into Fashion & Leather Goods, Selective Retailing, Watches & Jewelry, Perfumes & Cosmetics and Wines & Spirits. Each maison keeps its own creative director and brand identity, while the group pools capital, store leases and real estate, media buying, talent and supply-chain resources.
Growth strategy
LVMH grows by renewing creative leadership at its largest maisons, opening large flagship stores, expanding jewelry through Tiffany and Bvlgari, scaling Sephora, and buying heritage brands. Major deals include Bulgari (2011), Loro Piana (2013), Belmond (2019) and Tiffany & Co. for $15.8 billion (2021).
Competitive advantage
LVMH's edge comes from owning heritage brands that cannot be recreated quickly, combined with scale no peer matches. With ~$91.3 billion (EUR 80.8 billion) in 2025 revenue, it is several times larger than Kering or Richemont, which gives it leverage with landlords and media owners, the cash to buy flagship buildings, and the ability to absorb weak years at one maison with strength at another.
Questions about Louis Vuitton vs LVMH
Which company has higher revenue — Louis Vuitton Malletier SAS or LVMH Moet Hennessy Louis Vuitton SE?
LVMH Moet Hennessy Louis Vuitton SE had ~$91.3B (FY2025). A comparable annual revenue figure for Louis Vuitton Malletier SAS was unavailable here.
What is the market cap of Louis Vuitton Malletier SAS vs LVMH Moet Hennessy Louis Vuitton SE?
LVMH Moet Hennessy Louis Vuitton SE has a market capitalisation of $199.0B. A public market cap figure for Louis Vuitton Malletier SAS was not available (it may be privately held).
How does revenue per employee compare for Louis Vuitton Malletier SAS and LVMH Moet Hennessy Louis Vuitton SE?
LVMH Moet Hennessy Louis Vuitton SE generates $433k / employee in revenue per employee. A comparable figure for Louis Vuitton Malletier SAS requires matching employee and revenue data from the same reporting period.
How do Louis Vuitton Malletier SAS and LVMH Moet Hennessy Louis Vuitton SE make money?
Louis Vuitton Malletier SAS and LVMH Moet Hennessy Louis Vuitton SE generate revenue in fundamentally different ways. Louis Vuitton Malletier SAS: Louis Vuitton makes money by selling its own products at full price through channels it controls: a global network of directly operated boutiques, flagship 'maisons' such as the new Beijing and Seoul stores, and its e-commerce site. LVMH Moet Hennessy Louis Vuitton SE: LVMH is a holding company for more than 75 maisons grouped into Fashion & Leather Goods, Selective Retailing, Watches & Jewelry, Perfumes & Cosmetics and Wines & Spirits.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Louis Vuitton vs LVMH overview