Paris, January 31, 2026, 17:38 CET — The market has closed.
- On Friday, LVMH shares ended at 546.90 euros, marking a 0.8% gain for the session.
- Hennessy, part of Moët Hennessy, secured a pay agreement; champagne brands still brace for a strike set for Feb. 3.
- A Bain report highlighted a fragile and uneven rebound in China’s luxury market for 2026.
LVMH Moet Hennessy Louis Vuitton SE shares ended Friday at 546.90 euros, rising 0.83% that day. Still, the stock has slipped 7.52% over the last five sessions and tumbled 15.21% year-to-date.
Monday’s session will see China back under the luxury spotlight. Bain & Company projects the country’s personal luxury goods market to notch modest growth in 2026, following a 3% to 5% dip in 2025. But the firm cautions the recovery won’t be smooth or broad-based; senior partner Bruno Lannes described the growth as “segment specific.” The report also highlights stronger trends in Greater China for Richemont this month. Reuters
LVMH remains a key gauge for investors watching the sector, especially after its recent earnings report rattled the market. Now, fresh labor news from its drinks division is introducing added uncertainty, just as the stock searches for stability.
Two sources told Reuters that management and unions at the Hennessy cognac unit have agreed on one-off payments to compensate workers for bonuses lost last year. The payouts will equal 6.8% of annual salary, with a minimum of around 3,200 euros per employee. This deal brings some relief to Moët Hennessy, overseen by Jean-Jacques Guiony and Alexandre Arnault, following rare strike action at the division. The cognac brand has faced pressure from U.S. tariffs, its largest sales market, Reuters reported.
Tensions are mounting at the champagne houses. The CGT union at Moët & Chandon and Veuve Clicquot announced a fresh strike for Feb. 3, following walkouts earlier this month and in December over year-end bonuses, a CGT press release said.
LVMH shares plunged as much as 8.2% on Jan. 28, following results that revealed a 3% drop in its fashion and leather goods division during the holiday quarter. The wine and spirits unit also slumped, with revenue down 9%, and the operating margin dipped to 22% in 2025 from 23.1% the previous year. CEO Bernard Arnault warned of “reason to be prudent” amid geopolitical tensions and economic uncertainty. Meanwhile, CFO Cécile Cabanis stressed the need for growth as the group doubled down on cost control. Barclays analyst Carole Madjo noted the tone “casts a shadow” over the luxury sector. The decline weighed on rivals like Kering and Hermès. Reuters
On Friday, Barclays maintained a neutral rating on the stock but lowered its target price to 570 euros from 580, according to a note reported by MarketScreener.
In its January shareholder letter, LVMH announced it plans to recommend a 13-euro dividend per share at the April 23 meeting. This includes a 7.50-euro final payout scheduled for April 30, following a 5.50-euro interim dividend paid last December.
Traders are currently weighing two key signals: if demand in China is strong enough to boost volumes, and if the drinks division can steer clear of further walkouts. Monday’s moves might depend more on headlines than fresh data.
The downside scenario is straightforward. Disruptions at Moët Hennessy would likely shift focus back to costs and margins. Plus, a patchy recovery in China would complicate efforts to push through price increases.
Tuesday, Feb. 3, is the key date: Hennessy’s pay agreement is set to be signed, while the CGT plans another strike at Moët & Chandon and Veuve Clicquot. Investors will be watching closely to see if the dispute spreads as the week kicks off.
