Industry News

LVMH Perform!

The French luxury group, that is home to brands like Celine, Marc Jacobs, Dior and Louis Vuitton has reported 25% increase in the first half of the year!

The group said profits rose £1.16bn up from £0.93bn, a year earlier. Sales were up 13% during the period to £9.09bn up from £8.03bn in the same period the previous year.

“We approach the second half of the year with confidence and are relying upon the creativity and quality of our products as well as the effectiveness of our teams to pursue further market share gains in our historical markets as well as in high potential emerging markets,” said Bernard Arnault, president and chief executive of LVMH.

The great performance comes as no surprise, other luxury retailers have also reported increases last week. Hermès reported an increase of 17.9% in its second quarter and Burberry, a huge 30% in its first quarter!! Let the shopping sprees continue……………..