Bumper Christmas gross sales at LVMH show luxurious remains to be in style
In vogue: Model and actress Cara Delevingne sporting Dior, a part of LVMH
Fashion home LVMH celebrated a Christmas gross sales rise.
The bumper festive quarter helped the group money in file gross sales and income for 2023 however there have been worrying indicators that demand for luxurious items has wavered.
The French conglomerate, whose manufacturers embody Christian Dior, Celine and Louis Vuitton, mentioned fourth-quarter gross sales had been up 10 per cent.
That was up from 9 per cent development within the third quarter however behind the 17 per cent development of the primary and second quarters.
For the entire of 2023, gross sales rose 13 per cent to £74billion and income had been up 8 per cent to £19.5billion.
The luxurious trade has been hit by subdued demand from the US and China, dampening a post-pandemic increase.
LVMH head Bernard Arnault, was bullish, saying a partnership with the Paris 2024 Olympic and Paralympics was an ‘opportunity to reinforce our global leadership position in luxury goods and promote France’s fame for excellence.’
Arnault, 74, is the world’s second richest man behind Elon Musk, with an estimated £146billion.
