LVMH Profits Still Rising
One reason for LVMH's good news is the fact that many Asian shoppers have a particular affinity for Vuitton-branded handbags, fashions and leather goods. Recent hot bags Marc Jacobs and U.S. artist Richard Price (shown in the gallery below) contributed to the sales. Heavy spending cities such as Hong Kong and Macau are particularly valuable for LVMH brands.
Despite these numbers, LVMH shares have dropped 18 percent this year, driven by concern that the luxury goods market overall is falling. Also the weak dollar and yen are part of the worry, together the U.S. and Japan account for about a third of LVMH's revenue.
Gallery: The Prince and His Louis