Please, please do call it a luxury comeback! PARIS–French luxury goods behemoth LVMH Moet Hennessy Louis Vuitton Tuesday reported a 53% jump in first half net profit.
This should be awake up call for those luxury brands crying about profit losses and time to get serious for those who want to increase profit earnings. It is still a thriving economy for luxury brands that know how to target, attract, and engage their target audiences.
In a sign the company plans to solidify its position as the industry’s largest player, LVMH executives pledged to employ marketing efforts and invest in fast-growing markets like China to make market share gains.
Next stop for every luxury brand should be China! Call this a luxury comeback please!