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Luxury Retail Sales Surge as LVMH World’s Largest Upscale Retailer Benefits

Luxury Retail Sales Surge as LVMH World’s Largest Upscale Retailer Benefits

Defying the pandemic’s drag on the economy worldwide, DCA Member company LMVH 24S is experiencing strong sales and driving record-high share prices across the luxury goods sector. LVMH is the world’s largest luxury company and includes brands such as Louis Vuitton and Tiffany’s.
DCA Insight:
LVMH has long been considered the bellwether of the luxury segment. The recently reported uptick reflects the demand for luxury goods in the US and China, where accelerated vaccination efforts have gathered steam. The surge in luxury spending also demonstrates how the pandemic has not harmed upscale consumers in the same way as average consumers. While certain merchants struggle to adapt, luxury goods (i.e., leather bags, watches and jewelry) continue to sell well in an increasingly strong market.

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