The owner of Louis Vuitton and Dior lost its position on Tuesday as Europe’s largest luxury company in terms of market capitalization after being overtaken by Hermès.

Sales were "overall below the most conservative buyside expectations," Citi analysts said, with wines and spirits suffering the sharpest decline.

The design of the medals, which vary in value based on their metals, comes from LVMH's brand Chaumet. One Champagne holdings' group CFO claimed a lack of "cheer" worldwide caused bubbly sales to ...