LVMH Moët Hennessy - Louis Vuitton (LVMHF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, good afternoon, and welcome to today's conference call. I'm Robert Fouzan, Director of Financial Communications at LVMH, and with me is Cécile Gabenis, our Chief Financial Officer. Cécile will start by taking you through the key highlights of the first quarter of 2025. I will then comment on performance by business groups, after which Cécile will conclude, and then we'll be happy to take your questions. As a reminder, certain information to be discussed on today's call is forward-looking and subject to important risks and certainties that could call actual results to defer materially. For these, I refer you to the safe harbor statement included in our press release and on slide two of our presentation. Turning now to our announcement, our release was issued a short while ago in both French and English and is available on the LVH website LVMH.com, as are the slides for today's call. Let's now move on to today's topic, our first quarter figures, passing on to Cecile. Thank you, Rodolphe. Good afternoon, welcome, and thank you all for attending this call. Starting with slide three, let me give you a few broad comments on the first three months of the year, where LVMH continues to demonstrate resilience. Let me share a few highlights, first on Chinese demand. On the domestic market, trends were consistent with the end of last year. The main swing factor year-to-date is Chinese demand in Japan, as you can imagine. It remains strong in absolute terms, but recycled last year's sharp increase, and therefore no longer contributes to growth in a percentage point. Second comment, despite the context of uncertainty preceding tariffs announcement, American demand for fashion and leather goods and watches and jewelry remained well-oriented and accelerated mod...