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Parent company of Louis Vuitton, to see a large part of the profits go up in smoke

LVMH is the parent company of luxury brands like Louis Vuitton and Dior, saw its net profit in the first half of this year, by 2020, a large part of time. The l

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Parent company of Louis Vuitton, to see a large part of the profits go up in smoke

LVMH is the parent company of luxury brands like Louis Vuitton and Dior, saw its net profit in the first half of this year, by 2020, a large part of time. The lockdowns were sold in the company's products, and held it under the dash yet to 522 million euros, compared to almost eur 3.3 billion in the same period of the previous year, according to the interim financial statements.

Compared to the gains was the drop in the number of sales is not too bad. Revenue decreased in the first six months of this year, with "only" 27 per cent to 18.4 billion euros. The decline was across all divisions of the company and felt it; thus, lost of the Fashion & Leather Goods for 24 percent of sales, while Watches and Jewellery 39 per cent, it lost.

The reason for this was, of course, in the case of COVID-19. The coronamaatregelen in the different countries have to be taken, and had PURCHASED the shops closed, even at airports, where the company has a strong presence is.

in particular, in the United States and Europe have made heavy losses. However, reports in the French company, which is under the direction of the multimiljardair, Bernard Arnault, the sales in Asia pacific for the last time, will see a rise.

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