October 19, 2012

Louis Vuitton is still the favorite brand in Asia

Louis Vuitton is still one of the most loved and popular brands in Asia, and not only, even in times when other brands suffer because of the financial crisis. The latest concerns among luxury investors that Chinese consumers were starting to buy less high-end brands, seems to be just a groundless fear. The French luxury group LVMH announced that their main brand, Louis Vuitton, had not suffered any major slowdown concerning sales in the third quarter against the previous three months.

“Our figures for Louis Vuitton are pretty comparable to the second quarter,” said LVMH Chief Financial Officer Jean-Jacques Guiony, in a press conference. Still, he admitted that there had been “some slowdown here and there”, particularly in Asia outside China, where there were lower tourists this year, compared with last year.

Talking about sales, Guiony said that in this moment “Europe is a bit higher, U.S. a bit lower and China is close to (the first half), with low single-digit (growth).”

Louis Vuitton is the world’s biggest luxury brand in terms of sales. The brand makes up about 75 percent of the fashion and leather sales of parent LVMH. For years, they have been sending the stock up 3.6 percent to close at 128.25 euros.

Photos: resume.se