In one of the stranger trends of the global pandemic, top luxury brands have been treated as safe haven stocks. LVMH’s first-half profit plunge is a reminder that an industry that relies on international travel and the feel-good factor won’t get off lightly.
After the Paris market close Monday, LVMH Moët Hennessy Louis Vuitton, the bellwether luxury company controlled by Europe’s richest man, Bernard Arnault, said that operating profit fell 68% year over year in the six months through June. That was steeper than the 59% drop...
The Link LonkJuly 28, 2020 at 03:45AM
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Louis Vuitton’s Owner Shows Wear And Tear - The Wall Street Journal
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