Irish arm of Louis Vuitton sees revenues decrease by 10% to €28.13m in 2025

Gordon Deegan

Pre-tax profits at the Irish arm of the world’s most valuable luxury brand, Louis Vuitton, lost some of their shine last year as they declined by 15 per cent to €7.5 million.

New accounts filed by Louis Vuitton Ireland Ltd show that pre-tax profits fell by €1.34 million to € 7.5 million, while revenues dipped 10 per cent to €28.13 million.

The 10 per cent decline follows a 14 per cent drop in 2024 from record revenues of €36.49 million in 2023.

The brand has only one dedicated store here, which is housed in Brown Thomas on Dublin’s Grafton Street, and it also generates revenues from online sales.

Store sales declined at the Grafton Street outlet by 10 per cent from €28.16 million to €25.1 million, and this followed an 11 per cent decline in sales in 2024.

Online sales decreased by 5 per cent from €3.2 million to €3.02 million, and this followed a 35 per cent drop in online sales in the prior year.

The directors state that “2025 was a year of continued economic volatility where the macroeconomic conditions, like the high rates of inflation and interest, remain a challenge in the retail sector”.

They state that “in this context we stay cautious about the ongoing difficulties impacting the industry and the wider economy”.

They state that despite this, Louis Vuitton "is showing resilience with a loyal customer base and a strong branding image supported by marketing activities within Ireland and the wider group”.

The directors state that “with a steady trade in our retail store, we see a robust cash flow position for 2026”.

The brand is renowned for its expensive bags, with its Pharrell Williams' Rabbit Bag currently available online for its Irish customers at €25,000 while a Louis Vuitton golf bag will set customers back €20,500.

A diamond pendant - Monogram Star Cut - is priced from €86,000 while diamond hoops will cost €53,500 and a rose gold coloured Tambour watch costs €67,000.

The business sells a designer range of leather goods, accessories, watches, jewellery, fragrances, shoes and clothing here, and the company last year paid out a dividend of €7.47m million

The directors state that they are proposing a dividend of €6.3 million to be paid this year.

The directors state that in an economic environment in Europe which remains uncertain, Louis Vuitton will continue to focus its efforts on developing its client networks and will maintain strict control over costs.

The brand is a favourite of celebrities and pop stars, and Taylor Swift, Justin Bieber and Jennifer Lopez have all been spotted sporting Louis Vuitton branded items.

Louis Vuitton is part of the multi-billion-dollar stock market-listed and French-headquartered LVMH Moët Hennessy luxury brands company.

The profit takes account of concession commission of €2.59 million and non-cash depreciation costs of €450,000.

The Irish company last year recorded post-tax profits of €6.3 million after incurring a corporation tax charge of €1.19 million.

Numbers employed by the company last year decreased from 22 to 21 as staff costs dipped from €1.17 million to €1.11 million

At the end of December last year, the company had shareholder funds of €7.4 million that included accumulated profits of €6.3 million.