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LVMH Is Optimistic Despite Economic Downturn

Fab Flash: Louis Vuitton Stays Afloat Despite Economic Crisis

Despite the current economic downturn, luxury brand LVMH Moët Hennessy Louis Vuitton stays resilient as its sales figures show profits of over $17 billion dollars to date.

Though profits aren't as high as earlier this year, LVMH, which houses its namesake line along with other high-end labels such as Celine and Givenchy, reports a 9 percent growth in its business. Other top French retailers report up to a 10 percent loss in sales. In fact, the only decline experienced in the LVMH business is with watches.

“We are in a strange situation. It’s more a lack of confidence from retailers,” said LVMH finance director, Jean-Jacques Guiony, who states that retailers are being overly cautious with their spending.

All of this makes one wonder: Does LVMH have that magic staying power, or are the wealthy not affected by one of the worst economic crisises in history?

Source

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ilanac13 ilanac13 8 years
well i think that part of it is that those who can afford all the higher end goods from LVMH are the ones that won't be as affected. they aren't the ones that have to cut back on spending as much. then again, some people will still buy their luxury items even if they can't afford them just stay in a certain image
0fashionqueen 0fashionqueen 8 years
I love my LV bag and I want another, but the problem is they are just a little bit expensive for me. However, that will not stop me because I will still try to buy one and this brand has always being that way. People will always buy from him.
emalove emalove 8 years
I hate LV bags...that one is especially hideous.
kstad kstad 8 years
How can I get a job there?
shopgirl123 shopgirl123 8 years
haha true jessiebanana! never really thought of it that way... but overall i dont really think the super rich are affected.... who knows!
Jessiebanana Jessiebanana 8 years
Current LV (consumed by those ever persistent tacky logos) I suspiciously believe is shelling out inferior products at luxury prices. Therefore maintaining high profit margins. When you think about how many blogs are dedicated to spotting a fake, to the point where retailers can't tell the difference. Theoretically the quality should make it stand out (at least in person), not tiny details about printed serial numbers. Okay, so that was my rant for the day :).
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