LVMH cashes in on increasing luxury goods demand with net profit up 12%
APPARIS -- French luxury conglomerate LVMH confirmed Thursday that it's recession-proof: Net profit rose 12 percent last year, as wealthy customers snatched up its Bulgari jewelry and flocked to its luxury malls.
February 2, 2013, 12:05 am TWN
The company behind Givenchy gowns and Louis Vuitton luggage said it pulled in 3.4 billion euros (US$4.6 billion) in profit in 2012. Revenue rose 19 percent to 28.1 billion euros (US$38.1 billion), exactly in line with the consensus of analysts surveyed by FactSet.