LVMH Holdings Of Hermes Shares

LVMH, the world's largest luxury group, announced recently that its sales in the first half of the year were better than expected and its investment in luxury brand Hermes increased from 20.2% to 21.4%.

But this fashion The owners of LV and KENZO, Kenzo, champagne Moet&Chandon and Chaumet said that apart from the announcement, it did not have any financial instruments that would increase its future shares in Hermes.

Jean Jacques Geny, chief financial officer of LVMH group, said: "in the past six months, we have increased the holdings of Hermes."

LVMH group announced last autumn. Hermes The stock market shocked the entire fashion industry, and the LVMH Group continued to say that it did not plan to buy the Kylie bag and scarf manufacturer.

LVMH, the world's largest luxury group, always says that it will buy its shares, but Hermes has been defending itself against possible adverse investments by controlling family stocks.

LVMH, which has been involved in lawsuits with Hermes, has bought Bvlgari, Rome, Italy and Bulgari, a small Swiss watchmaker this year, with a view to expanding into fast-growing watches and jewellery markets.

The group's fastest growth in the first half of this year is Wrist Watch And jewelry sector, an increase of 27% over the same period last year.

The LVMH group's performance was announced after Hermes and cypress announced more than expected results, further proving that the luxury sector has been protected from global economic anxieties.

After a sharp fall in sales in 2009, luxury goods began to recover strongly. Relatively speaking, they were not affected by the weak economic recovery in the United States and the debt management crisis in the euro area.

In the first 6 months of June 30th, the LVMH group announced an increase of 13% to 10 billion 290 million euros in revenue.

According to the survey results of analysts, it is estimated that the pre tax income of LVMH group is 10 billion 210 million euros.

In the fashion and leather products category of LVMH group, LV The brand created more than half of the group's profits, and sales increased by 14% in the first 6 months, better than the market expectations.