Nonsense, Bernard Arnault said Thursday at LMVH Moët Hennessy Louis Vuitton’s annual shareholders’ meeting, suggesting Vuitton has “the most potential for growth” among the group’s galaxy of star brands.
He also boasted that fast-growing Sephora, once targeted for possible disposal, could one day become a “little Vuitton” as profit margins continue to fatten.
Sounding relaxed and upbeat, an effusive Arnault voiced optimism for the high-flying luxury sector, and said LVMH’s sales in April accelerated from the first quarter, when sales vaulted 15 percent, to 3.56 billion euros, or $4.27 billion.
“The start of the year has been excellent,” he said, citing strong growth in the U.S., China and Asia and a continued rebound in Japan. “All economic indicators are favorable.”
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