Bernard Arnault's, the chairman and chief executive of LVMH, net worth increased by $5.1 billion after sales grew 17%
The Paris-based conglomerate
reported significant growth across the globe, including Asia, despite the protests in Hong Kong, which accounts for 5% to 10% of global luxury sales, according to money management firm Bernstein Research. ’s sales in Asia, not including Japan, grew by 12% in the quarter. The company noted that its makeup segment grew rapidly in China and that it had opened its first Sephora store in Hong Kong last month. Growth in Japan was strong thanks to increased sales of wine and champagne. Across the board, growth was highest in fashion and leather goods, increasing 19% using constant exchange rates. in 2017. “That requires higher investment—which gives us an advantage.
does best.”
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