The financial crisis of 2008 is still shaking up most European countries, including France. But at least with regard to the luxury segment, no one can complain. Specially Bernard Arnault, CEO of LVMH. The group that includes brands such as Louis Vuitton and Dior published today the annual report for the 2011, and the numbers are impressive.
* The total sales growth was approximately 13% to a total of 10.2 billion euros in the first six months of the year, far more than the most optimistic analysts had expected. Profits rose further to 2.2 billion euros, 22% higher than in the previous year.
* Much of this amount, we must remember, came from emerging countries like Brazil, where the waiting lines for a Louis Vuitton bag is still endless.