Cecile Cabanis
Chief Monetary Officer
Women and gents, good afternoon. I hope you’re properly. I am right here with Rodolphe Ozun, who’s our Head of Investor Relations. And collectively, we’re more than happy to welcome you on our third quarter gross sales name. As traditional, I’ll begin with the highlights of the quarter, then Rodolphe will take you thru the main points of the division. I’ll conclude, after which we’ll be completely satisfied to reply your questions. Earlier than we begin, I kindly ask you to learn the protected harbor assertion on Web page 2 of your presentation earlier than I transfer to Web page 3 and begin the presentation.
LVMH confirmed good resilience within the first 9 months of 2025 with improved tendencies in Q3 throughout all enterprise teams. Vogue and Leather-based Items, specifically, benefited from stable native demand in its key nationalities with Mainland China turning constructive in Q3, stable development within the U.S., which improved sequentially in comparison with Q2 and constructive development with Europeans in step with earlier quarter.
The euro energy in opposition to key currencies generated a extremely damaging minus 5% affect in Q3 and currencies additionally remained a powerful headwind to offshore demand in Europe and in Japan. Lastly, all divisions proceed to innovate and
