As the earnings season approaches for the major luxury goods groups, forecasts for the fourth quarter of 2025 paint a mixed picture for brands.
While some luxury houses recorded a modest recovery in sales in the third quarter, analysts are struggling to anticipate future financial trends for the industry’s big names, all against a backdrop of economic uncertainty.
Return to moderate growth
Several luxury groups are anticipating an increase in revenues, although this growth remains cautious. For example, Brunello Cucinelli is projecting double-digit growth for the fourth quarter despite a challenging comparison with previous performances. Analysts point out that this momentum should contribute to solid revenue growth at constant rates of between 11% and 12%, driven by positive feedback on collections and global demand.
While LVMH remains a key indicator of the overall health of the luxury industry, its 2025 was not the most convincing, despite a slight improvement in the third quarter. Forecasts remain cautious : the group’s revenues could be stable or slightly down at organic rates, reflecting in particular the continuing weakness of the fashion and leather goods divisions.
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Read also > [COLUMN] Third quarter 2025: luxury divided between exceptional Houses and groups fighting back
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