According to a survey for the Altagamma association with BCG, a growing interest in collaborations and second-hand items are the features of a new kind of luxury goods consumption, chiefly by youngsters.
LVMH is one of France’s most valuable groups, and chairman Bernard Arnault is Europe’s richest man, yet the luxury baron insisted on Thursday at the annual shareholders meeting that it's really just a family affair.
Gucci growth is slowing but Kering is OK with that as it's still surging. Meanwhile Saint Laurent and Balenciaga are powering ahead and Bottega Veneta sales may be down, but the omens are good for Daniel Lee's designs.
France accounts for over one quarter of the total sales of the top 100 luxury corporations worldwide according to Deloitte’s 2019 report, with 9 groups listed and LVMH, L'Oréal, Kering and Chanel in the top 10.
The luxury giant and its labels are adopting measures to promote diversity and gender equality, and recently LVMH adhered to the code of conduct against the discrimination of the LGBTQ community in the workplace.