Asia’s love for Louis Vuitton bags is helping LVMH stay strong
Live MintLVMH weathered a new round of Covid-19 lockdowns thanks to the resilient appeal of its Louis Vuitton bags. “The strong beat should get LVMH share price home and dry,” Sanford C. Bernstein analysts led by Luca Solca said in a note. “After several years of flat prices, I think 2020 was the year to do that,” LVMH Chief Financial Officer Jean-Jacques Guiony said during an analyst call. Online Share LVMH didn’t disclose the share of its online sales last year, as that rate isn’t sustainable if the pandemic gets under control and shoppers return to physical stores, Guiony added. “We think we can recover the lost business with tourists coming back and developing the local client base.” LVMH’s selective retail unit, which includes Sephora and DFS, was the hardest hit last year amid a halt in international travel.
History of this topic
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