Jul 28, 2022
In General Discussion
Interestingly, this is the largest increase in the wealth of the richest on the list so far, and it is also the only luxury industry boss who ranks among the TOP10. This is mainly due to LVMH's stellar performance in the first quarter of fiscal 2019. The financial report shows that during the period, LVMH group sales increased by 16% to 12.5 billion euros, setting a new high in five years; in the past fiscal year 2018, group sales rose by 10% year-on-year to 46.8 billion euros, while profits rose 21% year-on-year and broke through phone number list for the first time. 10 billion euros. The contribution made by the Chinese market plays a decisive role. LVMH Group said at the first-quarter earnings conference that Chinese consumers have brought double-digit sales growth to Louis Vuitton for many consecutive years. Coincidentally, for CHANEL, the world's second largest luxury brand, stimulated by strong demand, the Asia-Pacific market, including China, has become the brand's largest market. In 2018, CHANEL's sales in the Asia-Pacific region increased by 19.9% year-on-year, which was nearly twice the growth rate of the overall sales. In contrast, the European and American markets grew by 8% and 7% respectively during the period. The strong demand in China's luxury goods market has provided basic support for the growth of leading brands. According to the "China Luxury Report 2019" released by the third-party consulting agency McKinsey, China contributed more than half of the growth rate of the global luxury goods market from 2012 to 2018, and by 2025, this proportion will continue to rise to 65%. It is no exaggeration to say that those who acquire China acquire luxury goods in the world.