Bernard Arnault sees record 2019 but is only 'cautiously confident' about 2020
AFP via Getty Images: Luxury titan LVMH reported record sales in 2019 fueled by strong demand for its fashion and leather goods, but is only “cautiously confident” about the year ahead amid political unrest in Hong Kong that has dented luxury sales in the region.$60 billion in sales last year .
Sales were powered by strong growth in Europe, the U.S. and Asia, despite headwinds from Hong Kong’s ongoing protests and a hike in sales tax in Japan in the fourth quarter. Louis Vuitton, the group’s jewel in the crown, saw “exceptional growth,” thanks to expanded product lines, including in shoes and its famously monogrammed handbags.
LVMH made a number of impressive acquisitions in 2019, including storied American jeweller Tiffany & Co for
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