High value, one of Interiors & Lifestyle Futures’ linchpins for competitive success, gets a significant endorsement in the latest results of LVMH. The French luxury goods group (Louis Vuitton, Dom Perignon, Givenchy, Bulgari and more) wrongfooted analysts with a 13% increase in sales (to £9.1billion in the first six months of 2011) and has even a waiting list for its Louis Vuitton handbags.
Zoe Wood, in her Guardian report on the results, adds that: “While the high street remains in the doldrums analysts predict that sales of designer clothes, watches and handbags will reach a new high of €186bn this year as the jet-set release the purse strings following the self-imposed spending purdah brought on by the global financial crisis.”
The phenomenon, Zoe Wood adds, isn’t restricted to LVMH – Burberry and Hermès are also experiencing better than expected sales.
Luxury brands - time to celebrate?
For the Guardian report see here
To explore LVMH’s various documents on its six month results to 30 June 2011, see here
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