Paris, Jan 18, 2026, 17:31 CET — The market has closed.
- LVMH shares closed Friday 2.64% lower at 609.20 euros, slipping for the fifth day in a row.
- Luxury stocks fell behind the wider European market heading into the weekend as earnings season accelerated.
- Traders head into Monday focused on U.S. tariff talk, Europe’s reaction, and the upcoming January earnings from LVMH.
LVMH Moet Hennessy Louis Vuitton SE (LVMH.PA) shares fell 2.64% on Friday, ending at 609.20 euros. This marks a 6.58% drop over the last five trading days on Euronext Paris. Year to date, the stock has lost 5.55%. 1
That dip counts now since LVMH stands as a crucial barometer for luxury demand and pricing strength. With Paris offline for the weekend, the market’s next move will hinge on macro news and initial earnings reports, not a fashion runway.
Europe’s luxury stocks plunged on Friday, even as the STOXX 600 barely budged. The luxury index dropped 3.2%, marking its steepest single-day decline since early October. Richemont led the fall, sliding 5.4% after BofA Global Research downgraded the Cartier owner from buy to neutral, citing stretched valuations. “The margin of safety that investors had previously is gone,” said Michael Field of Morningstar. Richard Flax, CIO at Moneyfarm, noted “a good amount of uncertainty in the world on the geopolitical side.” LSEG data showed Q4 earnings are set to decline 4.1% year-on-year, with consumer cyclicals facing the sharpest drops. 2
LVMH shook up the leadership of its media division, appointing Michèle Benbunan as CEO of Les Echos–Le Parisien starting Jan. 22. She takes over from Pierre Louette. Deputy CEO Stephane Bianchi described her as a “dynamic” leader whose role is “strategic” in driving the unit’s ongoing transformation. 3
Trade could drive bigger moves on Monday. President Donald Trump announced plans to slap an extra 10% tariff starting Feb. 1 on imports from eight European countries, including France. If no deal is struck by June 1, that rate would jump to 25%. Holger Schmieding, chief economist at Berenberg, said hopes for a calmer tariff environment “have been dashed for now.” Geopolitical strategist Tina Fordham added, “The U.S.-EU trade war is back on.” EU ambassadors were set to meet Sunday in response to the threat. 4
Tariffs strike LVMH where it hurts most—price, perception, and tourist dollars. A blow to European exporters or a sudden currency shift can quickly sour sentiment, often before investors see the latest earnings.
Traders will also focus on next week’s business surveys for clues on growth and inflation. The flash euro zone HCOB manufacturing PMI is scheduled for Friday, Jan. 23, at 09:00 CET. 5
LVMH has a key date coming up: its 2025 annual results are due in January, according to the investor calendar. The next big event after that is the 2026 annual general meeting, scheduled for April 22. 6
The risk scenario is straightforward. Should tariff threats escalate into actual policy, or if earnings season casts doubt on luxury demand holding steady, the stock might remain under pressure—even without a misstep from LVMH itself.
Trading in Paris kicks off Monday with eyes on the luxury sector, new broker notes, and any cues from Brussels and Washington ahead of Feb. 1. LVMH’s annual results update later this month remains the key company event that could shift expectations.
