LVMH’s Resilient Sales Ease Concerns Over Luxury Market Slowdown
- LVMH set to name Arnault sons Alexandre, Frederic to board
- Shares soar, sending other luxury peers higher as well
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LVMH’s sales rose at the end of last year as wealthy shoppers treated themselves to the group’s pricey handbags and Champagne, a sign of resilience at the world’s largest luxury conglomerate.
The shares rose the most in 15 years, adding about €43 billion ($46.8 billion) to the company’s market value.