Defensive luxury

first_img whatsapp Defensive luxury by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald Show Comments ▼ KCS-content Share Sunday 24 October 2010 11:07 pmcenter_img DESPITE talk of a flight to quality, received wisdom tells us that consumers should cut back on fripperies in hard times. Yet luxury firms of all hues are doing remarkably well. Take Apple, the tech giant that only sells high-end products: it has continued to post ever-rising profits and revenues throughout the recession, smashing its own records in the process. LVMH, the luxury goods firm behind Moet champagne and Louis Vuitton handbags, is another case in point. In the three months to end of September, it grew organic revenues by 14 per cent, with all product categories notching up double digit sales growth.Burberry, a contender for company of the year in this week’s City A.M. awards, is also in fine fettle, turning its attention to the new wealthy classes in emerging markets. Hermes, now the subject of LVMH’s affections, is finding new custom among the fashionistas in China and India too; in the first half, it posted sales growth of 20 per cent, thanks in large part to these customers. Yesterday, LVMH said its 17 per cent stake in Hermes was a strategic investment in “one of the jewels of the luxury industry”. This looks like stake building, even though LVMH denies anything of the sort. LVMH trades at a well-deserved five per cent premium to the rest of the sector. This deal makes the stock an even better [email protected] whatsapp Tags: NULL Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wraplast_img read more