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French luxury giant LVMH is experiencing a major downturn, with its shares falling 28% in the first quarter of 2026 — the worst performance since the company went public in 1987.

According to Bloomberg, LVMH’s Q1 results were even weaker than during the COVID-19 pandemic in 2020, the 2008 financial crisis, and the dot-com crash of 2001, marking an unprecedented moment for the luxury sector leader.

Following a brief post-pandemic boom, the luxury market has struggled to regain momentum since 2024. While the company reported a modest 1% organic sales increase in Q3 2025, overall sentiment has deteriorated rapidly due to rising prices, geopolitical tensions, and growing trade barriers.

Chairman and CEO Bernard Arnault has also taken a personal financial hit. His net worth dropped by $55.4 billion in the first quarter alone — the largest decline among the world’s 500 richest individuals, according to the Bloomberg Billionaires Index.

Concerns are mounting around LVMH’s flagship brands, including Louis Vuitton, Dior, Fendi, Celine, Loewe, Givenchy, and Loro Piana. The group’s wines and spirits division — featuring Moët & Chandon, Hennessy, and Dom Pérignon — is also under pressure, as declining consumption among younger consumers begins to impact revenues.

Amid global economic uncertainty and geopolitical instability, the luxury industry is facing mounting pressure — and LVMH, long seen as its strongest player, is now at the center of the storm.

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