Skip Nav

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

Latest

Download our Fashion Week app!

Go to App Store
+