Weekend Briefing: LVMH expects a positive bump from the U.S. election

11 months ago 21

Last week, LVMH’s earnings report showed the company bucking the trend of slowing luxury sales. CEO Bernard Arnault said he expects the U.S. election this year to further boost the company’s revenue. Don’t forget to subscribe to the Glossy Podcast for interviews with fashion industry leaders and Week in Review episodes, and the Glossy Beauty Podcast for interviews from the beauty industry. –Danny Parisi, sr. fashion reporter

LVMH breaks the luxury slowdown trend

The last few months have been hard on the luxury market, with major companies like Kering and Saks Fifth Avenue struggling with lowered demand for luxury goods from consumers around the world.

But LVMH finally bucked that trend with its latest earnings report released on Thursday. It reported revenue of over $93 billion for 2023, beating analyst estimates. That’s an increase of 13% over the year prior, with a 14% boost in the fashion and leather goods segment.

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