The world’s biggest luxury group LVMH said it was confident it could continue its fast-paced growth after reporting fresh sales and profit records last year driven by booming demand in the US and China.
The conglomerate controlled by billionaire Bernard Arnault also increased its annual dividend to €10 per share, its highest ever payout and two-thirds up on the previous year.
The pandemic proved a shortlived crisis for the group, whose biggest brands Louis Vuitton and Christian Dior have continued to attract affluent shoppers despite store closures and lingering travel restrictions. A gulf has opened between these top brands and smaller independent ones that have lost market share and struggled to keep up in an advertising and ecommerce arms race.