LVMH’s Champagne Business Returned to Growth in the First Half of 2026

LVMH reported a rebound in its Champagne and wines business in the first half of 2026, offering a rare positive sign for the high-end wine market after a weaker 2025.

The French luxury group said its Champagne and wines division posted 7% organic revenue growth from the same period a year earlier. Reported revenue for the unit rose to €1.42 billion from €1.39 billion in the first half of 2025. The improvement was driven in large part by a recovery in Champagne, especially in Europe and Japan.

The result marks a turnaround from 2025, when the division ended the year down 2.9% from 2024. For a business that includes some of the best-known names in luxury wine and Champagne, the return to growth suggests that demand at the top end of the market has not disappeared, even as consumers and producers continue to face a difficult global environment.

LVMH’s Champagne and wines portfolio includes Moët & Chandon, Krug, Ruinart, Dom Pérignon and Veuve Clicquot, along with wine estates such as Cheval Blanc, Château d’Yquem, Domaine des Lambrays, Cloudy Bay, Bodega Numanthia, Terrazas de los Andes and Ao Yun.

Across its broader wines and spirits business, which also includes brands such as Hennessy, Glenmorangie and Ardbeg, LVMH said organic revenue rose 5% in the first half and recurring operating profit increased 11%. Revenue for that larger division reached €2.59 billion, with recurring operating profit of €582 million.

The company said prestige cuvées in Champagne showed encouraging signs. It also pointed to continued momentum for Hennessy cognac in China following the Lunar New Year period, the launch in the United States of ready-to-serve cocktails under Hennessy’s V.S. range, and ongoing progress for Provence rosé wines. LVMH said cost discipline, brand desirability and innovation remained central priorities for the business.

For the beverage sector, the figures matter because LVMH is one of the clearest indicators of spending trends in premium alcohol worldwide. Growth in Champagne and fine wine at a group of this scale may signal firmer demand among affluent buyers in key markets, while gains in cognac, ready-to-drink cocktails and rosé point to where large drinks companies still see room to expand.

The results came as LVMH reported €38.6 billion in total revenue for the first half of 2026, against what it described as a challenging market backdrop that has affected luxury more broadly.

Bernard Arnault, LVMH’s chairman and chief executive, said in a statement that the group had shown its resilience and the effectiveness of its strategy. He said its maisons had remained focused on product quality and that some were engaged in creative renewal efforts that continued to strengthen their appeal. He added that while the company remained highly attentive to margins, it was entering the second half of the year with renewed confidence in the long-term potential of its brands and teams.

The recovery in Champagne is likely to draw close attention across wine regions and distribution channels because it comes after an extended period of caution in parts of the premium drinks market. Europe and Japan were singled out by LVMH as areas where Champagne improved, suggesting that established mature markets are helping support growth even as conditions remain uneven elsewhere.

That pattern may be especially relevant for producers watching whether consumers are returning to celebratory categories after inflation, slower economic growth and shifting drinking habits weighed on volumes in recent years. In luxury beverages, where pricing power is often stronger than in mass-market segments, even modest volume stabilization can have an outsized effect on revenue and margins.

LVMH did not provide detailed shipment figures for Champagne or wine volumes in its statement on the half-year results. But its emphasis on prestige cuvées indicates that higher-value labels remain an important engine for performance. That is consistent with a broader trend across premium drinks, where companies have leaned on top-tier products, limited releases and brand-led experiences to protect profitability during softer periods.

The company’s comments on innovation also underline how major beverage groups are balancing heritage brands with newer formats. The U.S. launch of ready-to-serve cocktails under Hennessy’s V.S. label shows how established spirits houses are trying to capture demand from consumers seeking convenience without leaving premium branding behind.

At the same time, continued gains for Provence rosé suggest that lighter wine styles with strong lifestyle positioning still have momentum within international portfolios. For producers and importers, that mix of recovery in classic luxury categories such as Champagne alongside growth in more accessible premium segments could shape investment decisions through the rest of the year.

LVMH’s update does not remove wider uncertainty around consumer spending or global trade conditions. But after last year’s decline in its Champagne and wines division, the first-half increase offers one of the clearest signs so far that parts of the upper end of the wine business are regaining traction.