Well, it looks like heck of a lot of people in China are still ticked off about the fiasco that ensued with the Olympic torch as it was carried through Paris. They’re boycotting Louis Vuitton- and all LVMH companies in protest.

French President Nicholas Sarkozy has stepped up to the plate, and is apparently now trying to patch things up. He sent an a letter of apology to Olympic torch holding, Paralympic athlete, fencer Jin Jing, saying:

“I would like to express to you my deep feeling towards the way you were shoved in Paris on April 7 when you were holding the Olympic flame… I understand the Chinese people’s feelings were hurt by what went on that day, and especially by the intolerable attack you suffered and which I condemn with the utmost force.”

The Chinese spend A LOT of money on luxury goods- third only to Japan and the US. LVMH is depending on China to hedge the sluggish economic situation we’re dealing with here in the US of A!

Today, WWD pointed out,

“Louis Vuitton plans to send some of the world’s finest vintage cars roaring through China next month as it opens its second location in Chengdu — and is considering third and fourth locations in that city alone as demand for European luxury booms in the Asian giant.”

Read more about it from Bloomberg…

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On February 26, France’s President Nicolas Sarkozy along with his Finance Minister- Christine Lagarde, took a tour of the Saint Pourcain Sur Sioule, Louis Vuitton workshop.

Looks like they’re getting a look at the new Richard Prince line.

Sarkozy has a lot of ideas about how to stimulate the economy and stop the rise in inflation (in January- it was the highest it’s been in 11 years). But he’s probably doing a little economics lesson from the folks at LVMH. When every other retailer on the block is taking a good hit- with a sales slump and cooling economy- LVMH is seeing record profits. They’re doing something right.

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