LVMH closes the third quarter of 2026 with organic growth of 1%, according to Global Cosmetics News. The results were published this Monday, October 12, after the close of the Paris Stock Exchange.
The group: figures in line, fashion down
LVMH invoiced 57.1 billion euros in the first nine months of 2026, with organic growth of 2% and invoicing has fallen by 2% in published data. The third quarter ended with 18.504 billion euros, compared to 18.280 billion in the same period of 2025. The company attributes the slowdown to a less favorable environment in China, while the United States, Europe and Japan are growing well.
Perfumes and cosmetics: from decline to stability
The division generated 2.008 billion euros in the quarter. Its organic growth was 1% in the third quarter with 5.922 billion euros in accumulated invoicing. The figure is better than it seems if one looks at the year's trajectory. In the first quarter, the division's sales plunged 6% in published data. In the first half, invoicing stood at 3.914 billion euros, with a published fall of 4% and organic stability, and in the second quarter the organic figure was -1%. The third quarter represents the first organic advance of the year.
According to Global Cosmetics News, Parfums Christian Dior relied on launches such as J’adore Intense, Sauvage Extrait and Dior Addict, and on good performance in makeup with Forever and Backstage. Guerlain registered notable growth thanks to its fragrance portfolio and Rouge G lipstick. In July, the company had already highlighted the good performance of the historical houses, especially Parfums Christian Dior and Guerlain.
Sephora, the group's engine
Selective distribution was the division with the highest growth: 8% organic in the third quarter and 6% in the nine months. This represents an acceleration compared to the 5% of the first half. Global Cosmetics News attributes the advance to Sephora continuing to gain share with consolidated brands, exclusive launches such as Rhode and Chinese beauty brands, in addition to its expansion into Belgium and Croatia. The pattern has been repeating for some time. In April, the company had already compensated for the weakness of cosmetics with the boost from Sephora. The sector sees it as a “stabilizer” within LVMH's portfolio.