Moët Hennessy Louis Vuitton or LVMH has seen an unprecedented increase in sales, thanks to the developing economy. The company is behind luxury brands such as Louis Vuitton and Moet. With a sale of 4.47bn Euros (£3.95bn) most of the sales came from Asia, and especially china. Wines, spirits, watches and jewellery have been the most important products that have been sold.
Louis Vuitton meanwhile has gained a lot of consumers as well, and they have opened several new showrooms all across the world. LVMH is keeping the costs down in order to make sure that the fragile economy is considered, and also because one does not want to alienate consumers with huge price tags. It would be a great way to spend money, if you have a taste for luxury.
The very fact that LVMH is making a lot of money suggests that the economy is really catching up and one does not have to worry about slugging economy anymore. Perhaps this would encourage other luxury brands to diversify as well, and we could see more number of products available in diverse markets which are otherwise not seen.