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LVMH expects to do better next year

LVMH, the world’s biggest luxury goods company, will do “a bit better” in 2018 than this year, the group’s managing director disclosed recently. In October, the group, which owns fashion brands such as Louis Vuitton, Christian Dior and Moet & Chandon champagne and Hennessy cognac - reported a higher-than-expected 12 per cent rise in like-for-like sales during Q3 of 2017. Revenues were £26.89 billion. “I think that in 2018 (LVMH) will do a bit better than in 2017,” disclosed Antonio Belloni on the side lines of the opening of the group’s first vocational training programme in Italy, in Florence.

Belloni said the group, which has invested €150 million in Italy this year, would “continue with this trend”, adding it had just bought a former furnace just outside Florence, close to where the group already produces high-end accessories for its brand Fendi.

 
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