# Who are LVMH Moet Hennessy Louis Vuitton's customers? Who does LVMH Moet Hennessy Louis Vuitton earn revenue from?
Canonical: https://valuechain.wiki/lvmh · Facet: customers · Updated: 2026-09-24T04:08:56.201512+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: LVMH Moet Hennessy Louis Vuitton discloses no named confirmed revenue counterparties; 4 relationships are tracked as undisclosed/aggregate. Per the valuechain.wiki graph: 4 revenue edges, backed by 7 dated sources, 1 of them primary filings (as of 2026-09-24).

### 중국국영면세품그룹 (CTG면세) (high)
- metric: transaction value $395 · 2026-01
- note: In Jan 2026 LVMH sold DFS's Hong Kong/Macau retail and Greater China intangibles to CTG Duty Free for USD 395m, reinvesting most proceeds into CTG shares with a brand-supply MOU.
- [confirms] The Korea Economic Daily (KO, news, published 2026-01-20) https://www.hankyung.com/article/2026012020771: "LVMH sells DFS's Hong Kong and Macau retail business to CDFG for USD 395 million."
- [confirms] Forbes (EN, news, published 2026-01-19) https://www.forbes.com/sites/kevinrozario/2026/01/19/lvmhs-dfs-group-sells-hong-kong-macau-stores-and-scraps-key-hainan-project/: "DFS sells its HK/Macau stores plus Greater China intangibles to CTG Duty Free, with a strategic MOU across fashion, drinks, hard luxury and beauty."

### 소비자 (럭셔리 5개 부문 브랜드) (high)
- metric: Amount 80.8 EUR10억 · FY2025 · group revenue
- note: End demand is discretionary consumers worldwide buying luxury brands across five groups from fashion and leather to wines, perfumes, watches and retail. FY2025 revenue was EUR 80.8bn (organic -1%), and as discretionary spending it is sensitive to the cycle and luxury demand.
- [confirms] The Korea Economic Daily (KO, news, published 2026-02-18) https://www.hankyung.com/article/202602107455i: "LVMH posted 2025 revenue of EUR 80.8bn, down 5% year on year."
- [confirms] Luxury Tribune (EN, news, published 2026-01-27) https://www.luxurytribune.com/en/lvmh-resists-in-2025-with-revenue-of-e80-8-billion-down-1: "LVMH 2025 revenue was EUR 80.8bn, down 1%, with recurring operating profit of EUR 17.8bn; Fashion & Leather organic -5%, the US (26% of sales) +3%, and Asia ex-Japan (26%) +1-2% as China recovers."
- [confirms] LVMH (EN, filing, published 2026-01-27) https://assets.main.pro2.maf.media-server.com/f15303e827064985854daed473cb0628/LVMH_-_2025_Full_Year_results.pdf: "LVMH's FY2025 full-year results report revenue of EUR 80.8B (organic -1%) across five business groups (Fashion & Leather Goods, Wines & Spirits, Perfumes & Cosmetics, Watches & Jewelry, Selective Retailing), with Fashion & Leather Goods the largest."
- [confirms] LVMH Investor Relations (EN, ir, published 2026-01-27) https://www.lvmh.com/en/publications/solid-performance-in-a-disrupted-global-economic-and-geopolitical-environment: "FY2025 revenue EUR 80.8bn; regional mix US 26%, Europe 26%, Asia ex-Japan 26%, Japan 8%."

### 셀렉티브 리테일·직영 유통 (세포라·DFS·부티크) (high)
- metric: Market share 4% · FY2025 유기 성장 · Selective Retailing organic growth
- note: Directly operated boutiques and Selective Retailing (Sephora, DFS) are the distribution axis; Selective Retailing grew organic +4% with recurring operating profit up 28% in 2025, relatively resilient within the group.
- [confirms] Luxury Tribune (EN, news, published 2026-01-27) https://www.luxurytribune.com/en/lvmh-resists-in-2025-with-revenue-of-e80-8-billion-down-1: "Selective Retailing (Sephora, DFS) posted organic +4% and recurring operating profit up 28% in 2025, relatively strong within the group."

### 콜스 (세포라 앳 콜스) (high)
- metric: channel sales $1.4 · FY2023
- note: Sephora at Kohl's shop-in-shops span 1,000+ US stores; sales topped USD 1.4bn in 2023, on track past the USD 2bn 2025 goal.
- [confirms] Kohl's Corporate Newsroom (EN, ir, published 2024-03-14) https://corporate.kohls.com/news/nqqydduj4u2cv2xihf05p6s1udu4y5: "Sephora at Kohl's surpassed $1.4 billion in 2023 sales, on track to exceed the $2 billion goal by 2025."

Reverse side: https://valuechain.wiki/lvmh/suppliers.md · Ripple: https://valuechain.wiki/lvmh/ripple.md

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Full node: https://valuechain.wiki/lvmh.md · JSON: https://valuechain.wiki/lvmh.json