LVMH Stock Stalls Below €480, Weighed Down by China
The world's leading luxury brand stalls after its previous day's surge, in a generally downward-trending CAC 40. The stock remains caught in a negative long-term trend that has persisted since the beginning of the year, despite some failed attempts to rebound. The sectoral context remains challenging, with declining Chinese demand and a downturn in French exports of wines and spirits.
The stock is among the biggest losers in the CAC 40 and struggles below the MM200
LVMH stock loses 1.81% to €475.20 at midday, down from €483.95 at the previous close. The stock is among the biggest losers in the CAC 40, which itself is down 0.38%. The decline erases part of the nearly 4% rebound recorded the previous day, as the Parisian luxury sector exhales again. Over three months, the stock has fallen by 12.66%, and remains almost stable over a year (-1.39%). The price is above the MM20 (€463.19) and MM50 (€469.18), with respective gaps of 2.59% and 1.28%. However, it remains below the MM200, at €542.47, marking a negative gap of 12.40% that materializes the medium-term bearish trend. The RSI at 58 remains in the neutral zone, without any extreme signal.
Luxury sector still troubled in China and in the spirits market
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The sectoral context remains unfavorable. In China, sales of jewelry and gold have dropped by 21.3% year-over-year in April 2026 according to official data, while total retail trade has only increased by 0.2%. Swiss watch exports to China, a regional luxury barometer, have only increased by 4.2%. On the French side, exports of wines and spirits have fallen by 4% in value for the 2024 report. This backdrop weighs on the entire segment, exposed to China and global consumption. Several analyst houses have lowered their targets over the past few weeks, as reported in our briefs from May 19 and May 14. The technical resistance is at €499.40, about 5% above the current price. The support at €444.95, tested in mid-May, remains the fallback zone in case the movement continues.
LVMH will draw on its powerful brands and the talent of its teams to reinforce its global leadership position in luxury goods once again in 2026
Risks mentioned
Uncertain geopolitical and economic environment affecting global business activity
Slowdown in demand in China impacting Fashion & Leather Goods segment
Market sensitivity to exchange rate fluctuations (negative 3% impact in 9M 2026)
Opportunities identified
Continued growth in Watches & Jewelry with 8% organic growth driven by strong jewelry performance
Strong performance of Sephora in Selective Retailing with market share gains and network expansion
Recovery in Wines & Spirits champagne business and good momentum in Asia for Hennessy cognac
Outlook / guidance
Management commentary: LVMH will draw on its powerful brands and the talent of its teams to reinforce its global leadership position in luxury goods once again in 2026. Despite an economic and geopolitical environment that remains uncertain, the Group remains confident and will maintain a strategy focused on continuously enhancing the desirability of its brands.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
