Yes, why not? I mean, after all- we’re the ones paying the always reliable price increases. So basically, I’m personally taking some credit for the 8%, or $3 Billion (yep- 9 zeros!) profit last year.

Don’t have time to read the article from Bloomberg? Here are the “cliffsnotes”:

1. profit rose 8 percent last year
2. LVMH Chairman Bernard Arnault forecasts a “tangible increase” in results this year
3. “Spending on luxury goods will double to 300 billion euros in five years”

Fascinating quote:

“Never Full bags, which cost up to $655 and can be turned inside-out, helped to stimulate sales in Japan, the source of about 15 percent of revenue. They contributed to an 8 percent gain in sales to 5.63 billion at LVMH’s fashion and leather- goods division, its main unit, after sluggish Japanese demand weighed on sales across the industry last year.”

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