LVMH grows despite war and controversy

The French luxury conglomerate LVMH, owner of brands such as Louis Vuitton, Dior, and Bulgari, saw a 3% increase in revenue in the second quarter of this year. Sales were driven primarily by American consumers, while European markets faltered.

Headwinds

Total revenue for the quarter came in at 19.5 billion euros, despite the negative impact of the war in the Middle East. That dampened growth by about one percentage point, particularly in the fashion and leather goods division. The U.S. market proved to be the biggest growth driver, accounting for a 6% increase. As a result, the U.S. largely offset declining spending in Europe, where consumers kept a tight grip on their wallets.