Andrea Felsted, Columnist

Louis Vuitton and Dior Aren’t Giving ‘Must Have’ Anymore

Bernard Arnault’s LVMH needs its showstoppers back in action.

July 25, 2025 at 9:07 AM UTC

Andrea Felsted is a Bloomberg Opinion columnist covering consumer goods and the retail industry. Previously, she was a reporter for the Financial Times.

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Every outfit needs one stunning item. For LVMH Moet Hennessy Louis Vuitton SE, the centerpiece has always been its Louis Vuitton and Dior handbags — but these household names are no longer shining so bright. While there are glimmers of hope about the luxury industry and LVMH approaching the bottom of the bust, until the group’s biggest and most profitable division starts delivering again, Bernard Arnault’s conglomerate will remain out of fashion.

On Thursday, LVMH said sales excluding currency movements and mergers and acquisitions fell 4% in the three months to June 30, slightly ahead of the 4.45% decrease expected by analysts. The beat was driven by businesses such as wines and spirits and selective retailing, which includes beauty retailer Sephora.