What LVMH’s first half results confirm about where Cognac and premium champagne stand right now

LVMH Moët Hennessy Louis Vuitton reported first-half 2026 results on 27 July 2026 showing group revenue of €38.6 billion, organic growth of 2%, and profit from recurring operations of €8.7 billion – down 4% on a reported basis, largely attributable to currency impacts. Within the group, the Wines & Spirits division reported revenue of €2.6 billion, organic growth of 5%, and profit from recurring operations up 11% – the division’s strongest performance since the downturn that began in 2023 following several exceptional post-pandemic years.