Luxury retailer LVMH is optimistic as it sees Chinese shoppers and tourists returning
Publishing timestamp: 2023-01-26 17:08:57
Summary
LVMH reported record sales and profits for the second year in a row, with 2022 revenue up 23%. CEO Bernard Arnault is optimistic about the future of China's luxury market, and other luxury companies such as Burberry and Swatch have also reported positive comments. Analysts believe that the reopening of China could lead to a "big bang" moment for luxury, driving sales in the country as well as in Europe. The U.S. market is slowing, but LVMH is not concerned.
Sentiment: POSITIVE
Tickers: MC-FR,
Keywords: earnings, business, lvmh moet hennessy louis vuitton se, wealth, retail industry, china, business news, luxury,
Source: https://www.cnbc.com/2023/01/26/lvmh-sees-chinese-luxury-shoppers-returning-boosting-2023-sales.html