LVMH Moët Hennessy Louis Vuitton said its Wines & Spirits business group recorded a 2% decline in sales in the 2026 first quarter. On an organic basis, revenue grew 5%.

LVMH, whose business includes not only wines, but also fashing and leather goods, perfumes and cosmetics, watches and jewelry, and selective retailing, saw its other units lag the wine and spirits business. Reported sales for the group as a whle were down 6% and on an organic basis, sales were up just 1%

The champagne business had a good start to the year, particularly in Europe. Moët & Chandon began its second season as the Official Champagne of Formula 1 Grand Prix races. Cognac was boosted by a favorable calendar effect for Chinese New Year with respect to 2025. Provence rosé wines maintained their positive momentum.

LVMH said it "showed  powerful innovative momentum and showed good resilience in a geopolitical and economic environment that remained disrupted, amplified by the conflict in the Middle East.

"The United States experienced a good start to the year. In Europe and Japan, resilient local demand helped to partly offset lower tourist spending. Asia (excluding Japan) saw strong growth, confirming the improvement in trends observed starting in the second half of 2025. The Middle East was impacted by the conflict in March, following a very positive start to the year. The conflict had a negative impact of around 1% on organic growth for the quarter," the company said.

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