LVMH Q3 2026: Beauty and Sephora Sales Rise

LVMH recorded a 1% rise in organic revenue in the third quarter of 2026. Growth was driven by its Perfumes & Cosmetics and Selective Retailing business groups, even as demand in China remained weak.

Group Performance

LVMH recorded third-quarter revenue of €18.5 billion. As a result, sales for the first nine months of 2026 reached €57.1 billion. That marks organic growth of 2 percent.

Perfumes & Cosmetics

The division generated €2.01 billion in the third quarter, up 1 percent organically. Over nine months, however, revenue of €5.92 billion stayed flat on an organic basis.

Brand Highlights

Parfums Christian Dior gained from new launches, including J’adore Intense, Sauvage Extrait and Dior Addict. In addition, its Forever and Backstage makeup lines sold strongly. Guerlain also grew substantially, thanks to its fragrance portfolio and Rouge G lipstick.

Selective Retailing

This division grew 8 percent organically in the third quarter. Meanwhile, Sephora kept gaining market share in three ways. First, its established brands performed well. Second, it added exclusive launches such as Rhode and Chinese beauty brands. Finally, it expanded into Belgium and Croatia.

THE WHY?

Prestige beauty and specialist beauty retail proved resilient within the wider luxury market. Sephora’s continued expansion and LVMH’s fragrance and makeup innovation fueled growth. This held true even though Chinese consumer demand softened. By contrast, Fashion & Leather Goods fell 5 percent organically during the quarter.