Monday, 8 February 2010
"Bling, bling” is out, according to LVMH boss, Bernard Arnault, but business for the luxury giant was boosted in December and January.
We read in a Reuters article that LVMH produced “record revenue in December,” and several of its divisions (including wine and spirits, and watches and jewellery) were “relatively upbeat” about sales and orders.
Overall in 2009, LVMH defied the luxury slump with a 1 percent rise in like-for-like sales in the fourth quarter and a smaller-than-expected drop in operating profit.
Earlier this month, Richemont, Burberry, Swatch and Valentino also reported better-than-expected sales.
Who's behind the MO DOWN
Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au