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LVMH 2025 • Chairman ’ s message

Our objective remains the same : to make each of our products and brands

ever more desirable .

We have a team of designers – unquestionably the world ’ s very best –

to   help us achieve this goal . Our team has continued to evolve with the arrival of

Jonathan Anderson at Dior , Michael Rider at Celine , the McCollough - Hernandez

duo at Loewe , and Maria Grazia Chiuri , who recently took over as Creative Director

at Fendi . These exceptionally talented designers bring incomparable value to

our   Group , as demonstrated by the universal acclaim Jonathan Anderson has

received worldwide .

Just as they are at Dior , innovation and creativity are more vibrant than

ever at Louis Vuitton thanks to the talent of Nicolas Ghesquière and Pharrell

Williams . The huge success of “ The Louis ” – a museum and store in the form of a

cruise ship in the heart of Shanghai – once again demonstrates this exceptional

Maison ’ s ability to craft distinctive , bold and innovative spaces , captivating a vast

array of visitors from all over Asia .

2025 continued

to lay the groundwork

for an ever more

desirable future

This past year , the Group delivered

a very solid performance despite

a disrupted environment , with free cash

flow in particular surging to over € 11 billion ,

reflecting our long - term solidity .

“ Our objective remains the same :

to make each of our products

and brands ever more desirable . ”