LVMH’s wine-and-spirits sales fell again in the final three months of 2025, sliding back after a positive third quarter.

The Moët & Chandon and Hennessy owner booked a 9% decrease in organic revenue from wine and spirits for the fourth quarter, a result that contributed to an annual decline of 5%.

LVMH’s wine-and-spirits business, which also includes brands such as Glenmorangie whisky and Belvedere vodka, has struggled for growth in recent quarters. In the third quarter of 2025, the division’s sales rose 1% on an organic basis.

However, the business unit, the smallest of LVMH’s five divisions by sales, saw revenue and profit decline in 2025.

Reported revenue fell 9% to €5.36bn ($6.41bn). LVMH said the profit from recurring operations in generated from its wine-and-spirits arm slid 25% to €1.02bn.

LVMH said there had been “good resilience” from its Champagne business, which also features brands including Krug and Veuve Clicquot.

The company said its Champagne houses “maintained their market share” of Champagne-appellation shipments at 22%.

Last week, data released by trade body Comité Champagne showed global Champagne sales volumes declined in 2025, the third consecutive year in which they have fallen.

LVMH, meanwhile, said revenue from Hennessy cognac was “held back by weaker local demand”, which the company said was mainly due to “issues with customs duties” in China and the US.

Elsewhere, the company said its Provence rosé wines “continued to outperform” the category.

Group revenue fell 5% to €80.81bn and by 1% on an organic basis.