Monday, September 1, 2008

Luxe Biz News - Prodigiously Prosperous PPR, Hermes and LVMH

Royal Van Lent Yacht

Well this year it's evident that there is no recession effect when it comes to the highest end luxury brands.

According to WWD the net profits for the first half of the year for PPR whose brands include Gucci, YSL, Bottega Veneta, Balenciaga and Boucheron, were up 140.9% (mostly due to sale of YSL Beaute and profitability in luxury goods sales)

Hermes, also had a 12.8% increase in half year sales due to scarves, leather goods and perfumes.

Meanwhile, LVMH has done so well that it is acquiring the Dutch firm Royal van Lent, which designs and builds yachts over 160 feet.
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