LVMH Holdings Of Hermes Shares

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

However, the owner of the fashion brand LV and KENZO (Kenzo), champagne Moet&Chandon and Chaumet, said that apart from the announcement, it had no financial instruments. Express It will 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."

When LVMH announced its ownership of Hermes last autumn, it shocked the entire fashion industry, and LVMH Group continued to say that it did not intend to buy the manufacturer of Kylie bag and scarf.

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, who has been involved in lawsuits with Hermes, bought Bvlgari, Rome, Italy, and a small Swiss watchmaker this year to expand to Bulgari. increase Watches and jewellery markets.

The group's fastest growth in the first half of this year was the 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 LVMH group The pre tax income is 10 billion 210 million euros.

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