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?
on Yahoo! |
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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