There’s No Recession in Luxury With Dior, Mercedes Sales Booming
- Lines at Christian Dior, Hermes boutiques defy global slowdown
- Is luxury demand crisis-proof or is this the last hurrah?
Customers queue to enter a Christian Dior SE luxury store on the Champs Elysees in Paris, France.
Photographer: Cyril Marcilhacy/BloombergThe leap in sales reported by LVMH, the owner of Louis Vuitton and Christian Dior, suggests that at least one segment of the economy remains immune to the crises assailing retailers -- luxury goods.
Gyrating markets, surging inflation and gathering economic gloom have proven no barrier to demand among the well-heeled for handbags, watches, jewelry and cars. That’s evident in the 22% jump in sales of LVMH’s fashion and leather goods last quarter.