Profits at the top luxury-goods corporations soared for the first half of the year, showing that people are shopping and indulging in fine apparel again. LVMH's profits increased 52.8 percent for the first half. Second-quarter sales at Hermès and Burberry both increased 27 percent. PPR just announced its numbers for the first half of the year, and like rival LVMH, they're pretty good! Profits spiked 87 percent for the first six months of 2010 thanks to demand for fancy clothes and accessories in Asia.
The first-half results were a “blowout,” Simon Irwin, an analyst at Liberum Capital in London, wrote today in a note. Irwin recommends buying the stock.
And he wasn't the only one. But the sartorial needs of this country don't matter quite as much to companies like PPR as those of Asia, where discretionary spending is increasing. Karl Lagerfeld already did a China-inspired collection, but we shall see if the focus on the continent visibly influences other collections for the scarily imminent spring shows.
Most Viewed Stories
Brad Pitt Fights Back Against Angelina Jolie and Her Plot to ‘Destroy’ Him
I Tried Hillary Clinton’s Diet and Now I Sympathize With Her
Looks Like Kate Middleton Is Enjoying the View in Canada
What It’s Like to Be a Female Reporter Covering Donald Trump
The Best Part of Being a Royal Is Getting to Pet Bunnies
22 Intimate Lost Photos of Marilyn Monroe
Trump Campaign Manager Accidentally Refers to His ‘Abuse’ of Women on Live TV
Megyn Kelly Roasts Trump’s Campaign Manager for Claiming He Doesn’t Make Sexist Comments
Misty Copeland Did Her Own Makeup for This Ballet Book
Blac Chyna Tweets Out Rob Kardashian’s Phone Number As an Apparent Warning to His Fangirls
From Our Partners
Who What Wear
powered by PubExchange
Latest News from The CutAll the Street Style From Paris Fashion Week
Hari Nef, so many coats, rainbow tassels.Cool New Paris Fashion Trend: Feminism
Dior models walked in T-shirts with political slogans.Pregnant Women Told to Consider Avoiding Southeast Asia Because of the Zika Virus
Same goes for women trying to get pregnant.Donald Trump Urges Voters to ‘Check Out’ Alicia Machado’s Sex Tape
The Republican nominee decides the best way to combat allegations of misogyny is to slut-shame the woman making them.Michelle Obama Writes Essay for The Fader Encouraging Kids to Be Cool, Stay in School
The Princeton grad doesn’t care about your plan to achieve viral success.Is the Cast of Girls Going to Be Okay?
Lena Dunham and Allison Williams seem to be taking things particularly hard.Alcohol Will Make You Happier Instantly, As You Probably Know From Experience
Scientists say alcohol has the same effect as a rapid antidepressant.Vetements Taps Margiela Alum
The design collective will hire Margiela’s Nina Nitsche.The One Thing My Husband and I Have Never Fought About? Money.
Buying a Coke can feel as loaded as buying a new home.Democrat PAC Now Using a Pack of ‘Beauty Queens’ to Combat Trump
That’s certainly one tactic to try.
These falcons are trained to wipe out drones.I Tried Hillary Clinton’s Diet and Now I Sympathize With Her
I was also extremely hungry.The Weeknd Is Working on Some Fashion Projects With Puma
Expect a footwear and clothing collection next year.Blac Chyna Tweets Out Rob Kardashian’s Phone Number As an Apparent Warning to His Fangirls
That’s one way to get the man to change his number.Trump Spokesperson Says Hillary Clinton Has ‘Failed Miserably’ As a ‘Champion for Women’
We can agree to disagree.Kesha Shows Her Support for Miss Universe Alicia Machado After Being Body-Shamed by Donald Trump
“You did not deserve to be shamed by this monster.”A Glimpse Into Marilyn Monroe’s Private Life
Whoopi Goldberg curated intimate portraits of the icon in a new exhibit, featuring photographs by Milton Greene.Nate Parker Addresses Rape Accusations in 60 Minutes Clip
He went on the record with Anderson Cooper.Paris Fashion Week’s Runways Are Still Overwhelmingly White
It’s been only three days but the numbers are bleak.Misty Copeland Did Her Own Makeup for This Ballet Book
She danced for photographer Gregg Delman's new book.