“The global economy is growing and we want to make the most of it,” the luxury titan told analysts Thursday night as he reported that sales in the fourth quarter gained 20.4 percent to 7.35 billion euros, or $9.92 billion. “We are on the same trend and we are reasonably confident for the year 2012.”
Arnault noted that business in January remained “excellent,” and stressed that it’s not only emerging markets like China that underscore his bullish outlook.
“Take America. We find that this is a dynamic market right now,” the LVMH chairman and chief executive officer said in an upbeat address at the firm’s wood-lined auditorium.
LVMH’s ‘remarkable’ half-year results reveal luxury is back in fashion.
“LVMH’s excellent performance in the first half once again demonstrates the exceptional appeal of our brands, the attraction of our high-quality artisanal products and the pertinence of our strategy,” said Chief Executive Bernard Arnault.