Yeah. We’re literally in the middle of a global economic meltdown. Banks failing. Bankruptcy. Bailouts.
But all those price increases must be doing some good! LVMH recorded $12 billion in revenue for the first 9 months of 2008- putting them up 6% overall. Their revenues actually increased third quarter (when it started getting really ugly for everyone else!)
Louis Vuitton in particular is up a whopping 12%. This unbelievable growth largely due to the continuing popularity of traditional monogram and graphite damier and strong presence in emerging markets.
I love this quote from The Cut- (and don’t say we haven’t said this all along):
“So don’t buy gold! Buy handbags.”
Seriously… Go ahead and invest!
