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LVMH Profit Rise 53% as Luxury Returns
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LVMH Profit Rise 53% as Luxury Returns

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French luxury goods behemoth LVMH Moet Hennessy Louis Vuitton Tuesday reported a 53% jump in first half net profit, heralding a strong return of high-end consumption and, in a departure from cautiousness seen in previous quarters, expressed confidence in the rest of the year. The world’s largest luxury goods company, which owns Krug champagne and shoe-maker Berluti, posted net profit for the first six months of €1.05 billion (US$1.36 billion), up from €687 million a year ago as all divisions posted double-digit revenue growth. – from WSJ



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