Wines and spirits – including our prestigious , world - leading high - end

brands   in champagne and cognac – were affected by the disrupted economic

environment . They naturally remain a resilient source of long - term value . Dynamic

new management with a wealth of experience from within our Group has revised   the

strategy and organization to adapt to market developments . I am very confident

about the progress that will be made . New possibilities for our business activities lie

ahead in this area , where we are the global leader in both champagne and cognac .

Our businesses gained market share in fragrances and beauty products

in   2025 . Leading the field is Christian Dior , with Sauvage the top fragrance world -

wide . Dior is also the market leader in makeup . Picture this : someone somewhere

in the world buys a Christian Dior lipstick every 2 seconds ! Guerlain is holding its

own , leading all of the Maisons worldwide through its innovations and the enduring

success of its iconic products .

Watches and jewelry offer a deep well of potential for our Group . In 2025 ,

TAG Heuer served as Official Timekeeper for the Formula 1 Grand Prix for the first

time . All the Group ’ s watchmaking brands continued their quest for innovation and

quality , in particular with La Fabrique du Temps , a Louis Vuitton - owned workshop

that ranks among the world ’ s top watchmaking facilities . In jewelry , where the Group

is a global leader , Tiffany continued its highly successful development in high jewelry

and its iconic gold jewelry , and Bvlgari went from strength to strength .

None of this would be possible without our talented teams . All our employ -

ees are working with renewed determination to enhance the desirability of each

of our Maisons and products , backed by the Group ’ s initiatives to train and recruit

the very best craftspeople . The Institut des Métiers d ’ Excellence ( IME ) training

program reflects our commitment to passing on traditional craft skills , with more

than 3 , 800 apprentices trained since its launch . And once again in 2025 , LVMH

was France ’ s largest private - sector recruiter .

“ None of this would be possible

without our talented teams . ”