Paris, Jan 25, 2026, 17:23 CET — The market has closed.
LVMH Moet Hennessy Louis Vuitton SE shares closed Friday at 591.40 euros, slipping 0.7%. The Paris-listed stock has dropped around 5.2% over the last week and is down about 17% compared to this time last year. 1
This matters as LVMH’s full-year update approaches, marking a key moment for European luxury. The stock has been slipping ahead of it. Investors are eager to gauge demand in the U.S. and whether Chinese spending is steadying, following a turbulent year for the sector.
Barclays analyst Carole Madjo highlighted a firmer “wealth effect” — the notion that spending rises alongside asset gains — as U.S. markets linger near record highs. “Luxury companies really feel like there is now a cleaner correlation between wealth effects and luxury spending,” she said. 2
TAG Heuer’s watches division is in the spotlight after CEO Antoine Pin stepped down following roughly 18 months in charge. The company said a new CEO will be named soon. “After 23 years within the LVMH group, Antoine Pin has decided to start a new chapter in his career,” a statement sent to JCK said. 3
On Friday, shares fluctuated between 586.20 and 596.50 euros, remaining far below their 52-week peak but still sitting above the 52-week trough, according to data from Investing.com. 4
Traders will zero in on whether the group’s top brands can maintain pricing power without overusing discounts. Any remarks on demand trends in Asia and the U.S. are expected to guide the stock’s next move.
Focus will also be on the balance between volumes and price hikes, along with any clues on costs. Luxury investors watch margins just as closely as sales, since marketing and store expenses can shift profits fast.
Risks run both directions. If early-2026 demand shows signs of faltering, or if softer spending starts creeping beyond entry-level categories, the stock could face further pressure after an already weak stretch.
European luxury peers are set to release their results in the weeks ahead, with investors closely comparing those figures to LVMH’s. For the moment, LVMH stands as the main barometer for the sector.
The next trigger is just around the corner. LVMH plans to unveil its full-year 2025 results after Paris markets close on Tuesday, Jan. 27, followed by a webcast at 6 p.m. Paris time. 5
