Fashion
LVMH posts $67.4 bn revenue in 9M, shows resilience amid volatility
Despite persistent economic uncertainty and geopolitical disruptions, the luxury group displayed resilience, with the third quarter registering a one per cent organic improvement supported by better trends across most business groups except Europe, where tourist spending weakened due to currency fluctuations.
LVMH Moet Hennessy Louis Vuitton reported €58.1 billion (~$67.396 billion) in revenue for the first nine months of 2025, down 2 per cent YoY.
Fashion and Leather Goods fell 6 per cent organically, yet Louis Vuitton, Dior, and Loro Piana sustained creative momentum through new launches and shows.
Selective Retailing rose 3 per cent. DFS’s recovery in Asia, and Le Bon Marche’s continued strength.
Revenue in the Fashion and Leather Goods division dropped 6 per cent organically to €27.6 billion (~$32.01 billion), reflecting the normalisation of tourist spending compared with the strong growth seen in 2024. Yet, local demand stayed robust, and LVMH continued to strengthen its creative leadership. Louis Vuitton remained a standout performer, blending heritage and modernity through captivating shows by Nicolas Ghesquière and Pharrell Williams, LVMH said in a press release.
The Maison’s Shanghai destination, The Louis, designed as a museum-like space inspired by a cruise ship, drew significant visitor traffic.
At Christian Dior, the appointment of Jonathan Anderson as creative director ushered in a fresh interpretation of Dior’s ‘new look’, receiving an enthusiastic response for both men’s and women’s collections. The opening of two new House of Dior flagships in New York and Beverly Hills underlined the Maison’s global expansion strategy. Loro Piana reaffirmed its mastery of natural fibres with a new collection presented at Milan’s Palazzo Citterio, while celebrating its continued partnership with Team Europe, winners of the 2025 Ryder Cup.
Fendi witnessed a leadership transition as Silvia Venturini Fendi became honorary president and Maria Grazia Chiuri was appointed chief creative officer. Celine, Loewe, and Givenchy also debuted collections under new creative directors Michael Rider, Jack McCollough and Lazaro Hernandez, and Sarah Burton, respectively, each receiving strong acclaim for their renewed vision.
Selective Retailing recorded a 3 per cent organic rise in revenue to €12.6 billion, with all three retail banners performing positively.
Duty free shoppers (DFS) showed a marked recovery in the third quarter, particularly in Macao and Hong Kong, benefitting from returning travel and spending by Asian tourists. Streamlining initiatives launched earlier in the year improved operational efficiency and profitability. Le Bon Marche, LVMH’s Parisian department store, posted steady growth driven by its refined product mix, experiential retail focus, and curated cultural events that continue to differentiate it in a competitive retail environment, added the release.
Despite global uncertainties and fluctuating demand patterns, LVMH remains confident in its long-term prospects. The group aims to strengthen the desirability of its brands by focusing on creativity, craftsmanship, and customer experience. With strong local demand and a commitment to sustainability and innovation, LVMH plans to leverage its portfolio’s diversity and brand equity to reinforce its leadership in the global luxury sector throughout 2025.
Fibre2Fashion News Desk (SG)
Falling energy prices are helping to ease global inflation, while lower rice and wheat prices have helped make food more affordable in some developing countries. Despite the recent declines, however, commodity prices remain above pre-pandemic levels, with prices in 2025 and 2026 projected to be 23 per cent and 14 per cent higher, respectively, than in 2019.
“Commodity markets are helping to stabilise the global economy. Falling energy prices have contributed to the decline in global consumer-price inflation. But this respite will not last. Governments should use it to get their fiscal house in order, make economies business-ready, and accelerate trade and investment,” Indermit Gill, the World Bank Group’s chief economist and senior vice president for development economics, said in a press release.
World Bank forecasts global commodity prices to fall seven per cent in 2025 and 2026, hitting a six-year low amid weak growth, rising oil surpluses, and policy uncertainty.
Energy prices are expected to drop further, helping cool inflation.
The World Bank urges governments to use this window for fiscal reform, while warning that geopolitical and climate shocks could reverse the downward trend.
The global oil glut has expanded significantly in 2025 and is expected to rise next year to 65 per cent above the most recent high, in 2020. Oil demand is growing more slowly as demand for electric and hybrid vehicles grows and oil consumption stagnates in China. Brent crude oil prices are forecast to fall from an average of $68 in 2025 to $60 in 2026—a five-year low. Overall, energy prices are forecast to fall by 12 per cent in 2025 and a further 10 per cent in 2026.
Commodity prices could fall more than expected during the forecast horizon if global growth remains sluggish amid prolonged trade tensions and policy uncertainty. Greater-than-expected oil output from OPEC+ could deepen the oil glut and exert additional downward pressure on energy prices. Electric-vehicle sales, which are expected to increase sharply by 2030, could further depress oil demand.
Conversely, geopolitical tensions and conflicts could push oil prices higher and boost demand for safe-haven commodities such as gold and silver. In the case of oil, the market impact of additional sanctions could also lift prices above the baseline forecast. Extreme weather from a stronger-than-expected La Niña cycle could disrupt agricultural output and increase electricity demand for heating and cooling, adding further pressure to food and energy prices.
“Lower oil prices provide a timely opportunity for developing economies to advance fiscal reforms that promote growth and job creation,” said Ayhan Kose, the World Bank’s deputy chief economist and director of the Prospects Group. “Phasing out costly fuel subsidies can free up resources for infrastructure and human capital—areas that create jobs and strengthen long-term productivity. Such reforms would help shift spending from consumption to investment, rebuilding fiscal space while supporting more durable job creation.”
Fibre2Fashion News Desk (KD)
Published
October 31, 2025
London-based womenswear specialist The Shirt Company, has rebranded “marking a pivotal moment in the brand’s journey, reflecting its growth from a niche label into a trusted destination”.
It also comes as the brand “focuses on sustainable growth and product innovation”.
At the heart of the rebrand is a new logo designed by London-based creative agency Yulan Creative, led by founder Joanne Jong whose portfolio includes collaborations with luxury and lifestyle brands such as Giorgio Armani and Missoni.
The new identity, which will also appear on new packaging, introduces a “bespoke wordmark and abstract symbol inspired by the letters of the brand’s name – a design that captures the balance of structure and softness intrinsic to The Shirt Company’s ethos,” we’re told.
The rebrand coincides with The Shirt Company’s 15th anniversary (it was founded in 2010 by Donna Middleton), “representing both a celebration of its heritage and a statement of intent for the future”.
Middleton, who is also brand creative director, added: “Following the successful introduction of [our] Shirt Dress and Curve ranges, which helped drive four consecutive years of online growth averaging 22% annually, the brand will continue to evolve its offering while staying true to its founding principles of quality, fit, and timeless appeal.”
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The Commission’s investigation revealed that the three companies restricted the ability of independent third-party retailers they work with to set their own online and offline retail prices for products designed and sold by them under their respective brand names. This kind of anticompetitive behaviour increases prices and reduces choice for consumers, a Commission release said.
The European Commission has fined three luxury fashion brands for fixing resale prices.
A probe revealed the three brands restricted the ability of independent third-party partner retailers to set their own online and offline retail prices for products designed and sold by them under their respective brand names.
They interfered with their retailers’ commercial strategies by imposing restrictions on them.
The fines, which were reduced in all three cases due to the companies’ cooperation with the Commission, amounted to over €157 million in total.
Gucci, Chloe and Loewe are fashion companies headquartered in Italy, France and Spain respectively. They design, produce and distribute high-end fashion products, including apparel, leather goods and various accessories.
The Commission’s investigation revealed that these three fashion companies engaged in a practice called resale price maintenance (RPM).
They restricted the ability of both their online and brick-and-mortar retailers, which are independent resellers, to set their own retail prices for almost the entire range of products designed and sold by them under their respective brand names. The infringements covered the whole territory of the European Economic Area (EEA).
In particular, the three fashion companies interfered with their retailers’ commercial strategies by imposing restrictions on them, such as requiring them to not deviate from recommended retail prices; maximum discounts rates; and specific periods for sales.
In certain cases, and at least temporarily, they also prohibited retailers from offering any discounts. They strived to have their retailers apply the same prices and sales conditions they applied in their own direct sales channels.
To ensure compliance with their pricing policies, the three companies monitored the retailers’ prices and followed up with deviating retailers. The retailers in general adhered to the companies’ pricing policies, either from the start or after being requested to do so.
“These anti-competitive practices by Gucci, Chloe and Loewe deprived the retailers of their pricing independence and reduced competition between them. At the same time, Gucci, Chloe and Loewe aimed to protect their own sales from competition from their retailers,” the Commission noted.
In addition, Gucci imposed online sales restrictions for a specific product line by asking its retailers to stop selling the product online.
The practices ended for all the three companies in April 2023, when the Commission carried out unannounced inspections at their premises.
Fibre2Fashion News Desk (DS)
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