Luxury brands are untouchable with strong Q1 earnings.
The LVMH group, which is everything luxury in the world: from Louis Vuitton to Fendi, from Guerlain to Kenzo, from Moet & Chandon to Krug and TAG Heuer to Chaumet is basically recession-proof in the US as they announce an actual increase in sales this past 3 months, where every other sector is falling in the United States:
Elaborating on its first-quarter results, LVMH MoÃ«t Hennessy Louis Vuitton said U.S. sales of fashion and leather goods leapt 18 percent in dollars, with no evidence of trading down or any change in its favorable momentum.
“For the time being, we see no signs of slowing down in our retail businesses,” Jean-Jacques Guiony, Louis Vuitton’s chief finance officer, said during a conference call on Wednesday. “We are pretty optimistic.”
However, Guiony cautioned analysts not to “overestimate the impact” of the leather goods designed by Marc Jacobs in collaboration with American artist Richard Prince, suggesting it may not end up a long-running blockbuster like its hookup with Japanese artist Takashi Murakami, whose multicolored monogram leather goods have generated hundreds of millions of dollars in sales.
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