Strong revenue growth at Sephora and market share gains for the beauty retailer helped LVMH’s retail division grow 8% in the third quarter of 2026, as the wider business grew just 1%.
Organic revenue at the French luxury group’s Selective Retailing business grew 6% across the first nine months of the financial year to €12.5bn.
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Sephora’s performance was driven by a “solid brand portfolio”, including growth across its historic brands as well as from exclusive launches, such as Hailey Bieber’s Rhode, which entered the beauty retailer’s European stores, and C-beauty brands.
The beauty retailer also expanded into Belgium and Croatia, and in the UK announced a partnership with high street retailer Marks & Spencer (M&S).
Meanwhile, organic revenue in LVMH’s perfume and cosmetics division grew 1% in the third quarter, but remained flat over the nine month period.
Parfums Christian Dior benefited from the launches of J’adore Intense, Sauvage Extrait and eau de parfum versions of Dior Addict, plus new signature scents within La Collection Privée.
“Good momentum” in Dior make-up, driven by Forever and Backstage lines in particular, also boosted the maison’s performance.
“Substantial growth” at make-up and fragrance brand Guerlain was driven by the launch of its L’Heure Bleue scent, Aqua Allegoria fragrance collections, as well as accelerating growth in its iconic Rouge G lipstick.
LVMH’s total revenue across the business, which also includes fashion, watches and jewellery, as well as wines and spirits, grew 1% in the third quarter and 2% over the nine month period, hitting a record €57.1bn.
The third quarter 2026 reflected “the impact on business activity of a less buoyant environment in China”, said LVMH in a company statement, while the US, Europe and Japan saw good growth.
“Backed by its diverse range of businesses, LVMH remained very solid in an uncertain geopolitical and economic environment, and maintained its innovative momentum,” the statement read.
In its outlook for the rest of the year, LVMH said it remained confident despite uncertainty around the economic and geopolitical environment.
It said it “will maintain a strategy focused on continuously enhancing the desirability of its brands, drawing on the authenticity and quality of its products, its excellence in retail and its agile organisation,” read the company statement.
“LVMH will draw on its powerful brands and the talent of its teams to reinforce its global leadership position in luxury goods once again in 2026.”
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