NEWS

  • Luxury Sector On the Rise in the First Half of the 2017 Year

    2017-05-29 | www.nytimes.com
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      First, it was Hermès, that, on July 21st, reported revenues up by 11% to €2.713 billion in the first half of the year.. The best performing market was Asia (excluding Japan) with sales up 14% (at comparable rate) especially due to the good results in China. Europe (+7%) and America (+9%) also performed very well.

      The French luxury giant, LVMH, also recorded an impressive growth in the first semester of the year with revenues up 15% to €19.7 billion and operating profits up 23% to EUR3.64 billion. Even in this case, the performance of the fashion & leather goods segment was key to the growth as sales jumped to €6.89 billion, up by 17%. However, the luxury giant remains cautious about the rest of 2017 as Bernard Arnault, CEO of LVMH, told media: “In an environment that remains uncertain, we approach the second half of the year with caution”.