LVMH Moët Hennessy Louis Vuitton reported revenue of €80.8 billion in 2025, reflecting a 5% decline amid a challenging global economic and geopolitical environment. Despite these conditions, the Group demonstrated solid resilience and sustained innovation, with the Watches & Jewelry division performing particularly well. Europe experienced a slowdown in the second half of the year, while the United States recorded growth driven by strong local demand. Japan declined compared to 2024, which had benefited from tourist spending linked to a weaker yen. Asia showed improved momentum, returning to growth in the second half. Profit from recurring operations reached €17.8 billion, with an operating margin of 22%.