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LVMH 2025 • Selective Retailing

1 . 2 . 4 . Sephora

3 . 5 . 6 . 8 . Le Bon Marché

7 . DFS

9 . La Grande Épicerie

to renowned Brazilian artist Ernesto Neto ; the light -

heartedly offbeat Je T ’ aime Comme Un Chien exhibition ;

the Tout Beau et Tout Bronzé exhibition held over the

summer ; and the Rock ’ n ’ Drôle exhibition in September ,

created with Antoine de Caunes , which took visitors

on a humorous journey through the history of rock .

Babel , a stunning new performance choreographed by

Mourad Merzouki and Le Bon Marché ’ s third night -

time show , was a major success . With its exceptional

range of culinary products and gourmet experiences

La Grande Épicerie de Paris achieved revenue growth

particularly among international customers The Group

strengthened the organization of its department

stores in March 2025 by implementing a shared

governance structure for Le Bon Marché and

La Samaritaine which will continue its development

while drawing up its business model for the future

2026

OUTLOOK

In 2026 , Sephora will continue

to pursue its strategy of

differentiation through products

and experiences , and will

continue to expand its store

network to sustain growth and

gain market share . The Maison

will focus on seeking out growth

opportunities across all of its

geographical markets , including

the most mature , as well

as launching in new countries

such as Croatia in Europe

and continuing to expand

in the United Kingdom , Latin

America and Southeast Asia .

In North America , Sephora will

continue to open new stores and

pursue its renovation program ,

rolling out its new store concept .

In China , its new strategy will

feature a number of exclusive

brand launches and store

renovations . The Maison will

focus on developing its “ Only

at Sephora ” selection and brand

collaborations , following

the model of Rhode , which

will continue to be rolled out .

Its omnichannel strategy will

be further reinforced to ensure

a seamless user experience and

personalized , high - quality advice

at every step of the customer

journey , notably through

the global rollout of its skin

scan and shade finder tools

The Maison will continue

to inspire its community with

the now iconic SEPHORiA event

to be held in a number of capital

cities and to reward customers

with the rollout of the

My Sephora loyalty program

Spurred on by the conviction

that its people , and in particular

its beauty advisors , are the key

to its success and its ability to

deliver excellence in the customer

experience , the Maison will

continue to prioritize career

development and training ,

with Sephora University and

advanced new tools underpinned

by technology and artificial

intelligence . Lastly , the Maison ’ s

commitment will be embodied

in initiatives promoting

inclusion – a core component

of its global mission . DFS will

further focus on its clienteling

activities , showcase its selection

of high - quality products and

launch targeted initiatives .

An agreement was signed in

January 2026 with China Tourism

Group Duty Free to acquire

DFS ’ business in Greater China ,

in particular the Gallerias

in Hong Kong and Macao .

Le Bon Marché will strive

to further enhance the quality

of its exclusive selection focused

on desirability and uniqueness .

The Maison will launch a new

loyalty program in September 2026

to attract and satisfy an ever

more demanding customer base .

The legendary department store

on the Left Bank of the Seine will

continue to host unique artistic

events starting with an exhibition

by Chinese artist Song Dong

a major figure in contemporary

art La Grande Épicerie de Paris

will showcase regional specialties

and develop its range of artisanal

products and services