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Luxury Is Back On The Rise

 1 min read / 

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Trader’s remarks: LVMH, the world’s largest luxury-goods maker, recently reported a 2% gain in annual profit as growth in fashion and leather-goods sales rebounded in the fourth quarter of last year. The company believes that fears of a further slowdown in spending among Chinese consumers, who account for more than 30% of luxury spending globally, were overblown. Luxury spending in China has slowed down due to economic trouble and an ongoing crackdown on corruption. It has also been hurt by international visitors cancelling their European trips in the wake of the terrorist attacks in Paris and Brussels. Louis Vuitton is introducing more expensive products and opening fewer stores as LVMH’s most profitable brand seeks to move upscale amid softening demand in Europe and Asia.

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