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LVMH Moet Hennessy Louis Vuitton, the world's largest luxury goods group, has reported revenue of 58.1 billion euros ($67.7 billion) for the first nine months of 2025, up 1 percent year-on-year, buoyed by improving demand in China.

全球最大奢侈品集团路威酩轩（LVMH Moet Hennessy Louis Vuitton）公布，2025年前9个月营收达581亿欧元（约合677亿美元），同比增长1%，这一增长得益于中国市场需求的改善。

The modest uptick offers a positive signal for a global luxury sector struggling with a waning appetite for high-end goods.

这一温和增长为全球奢侈品行业释放了积极信号——目前该行业正受高端商品需求减弱的困扰。

The company said it maintained "good resilience and powerful innovative momentum" despite ongoing geopolitical and economic uncertainty.

该公司表示，尽管地缘政治和经济不确定性持续存在，仍保持了“良好的韧性和强劲的创新势头”。

Revenue in Europe and the United States remained broadly stable compared with the same period in 2024, supported by solid local demand.

在强劲本土需求的支撑下，欧洲和美国市场的营收与2024年同期相比基本保持稳定。

Japan posted a decline, reflecting a normalization from last year's tourist-driven surge fueled by a weaker yen.

日本市场营收出现下滑，这一现象反映出市场正从去年的增长中回归常态——去年日元贬值推动旅游消费激增，带动了日本奢侈品市场增长。

Meanwhile, the rest of Asia — largely dominated by China — recorded a notable turnaround, with 2 percent growth after contractions of 6 percent and 11 percent in previous quarters this year.

与此同时，以中国为主要市场的“亚洲其他地区”实现显著回暖：在今年前两个季度分别收缩6%和11%后，该区域此次录得2%的增长。

The third quarter was LVMH's first of organic growth this year, with all groups and regions improving except Europe, where tourist spending fell due to currency shifts.

今年第三季度是LVMH首次实现自然增长的季度，所有业务板块和地区均有所好转，唯有欧洲例外——该地区因汇率变动导致旅游消费下降。

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