Thursday, April 24, 2008

Lots of Luxe

Lots of Luxe News from WWD today.

Cash rich LVMH is adding another luxe brand to their portfolio with the purchase of Hublot. Why? Because they can.

Companie Financiere Richemont, whose luxe brands include Cartier, Van Cleef, Montblanc, Dunhill, IWC and Jaeger-LeCoultre has had another strong year.
Goldman Sachs in London called the sale figures "a particularly reassuring set of results," in a research note Wednesday. "[They reaffirm] the resilience of the high end and watch segment in particular," the company added.

PPR, owner of Gucci, YSL, Bottega Veneta and other luxe brands had 20% growth in Q1 sales.
Even with the daily news full of reports about rising oil and food prices, sales of the most expensive clothes and accessories are increasing. Things just can't be that bad.
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