4 5
LVMH 2025 • Annual Report
6 Chairman ’ s message
12 Interview with the Group Managing Director
The LVMH Group
18 Mission and values
20 Strategy
21 Executive Commit tee
22 Professions
23 Key f igures
24 History
26 Governance
28 Human Resources
LVMH ’ s commitments
32 Ethics
34 Social
40 Environment
46 Art and culture
Business group insights
56 Wines & Spirits
74 Fashion & Leather Goods
100 Perfumes & Cosmetics
118 Watches & Jewelry
142 Selective Retailing
154 Hospitality
Performance measures
169 Stock market performance measures
170 Financial performance measures
172 Non - f inancial performance measures