The world’s leading luxury goods company is the first European company to have passed the 500 billion euro market capitalization mark on Monday.
How far will it go?
The world leader in luxury goods is, more than ever, the European leader on the stock market.
LVMH exceeded this Monday the 500 billion dollars of market capitalization. It is thus the first group on the old continent to reach such a record.
The excellent resilience of the luxury industry, and in particular of its world number one, explains this investor confidence.
After having already achieved a record result in 2022, LVMH has again achieved a 17% growth in sales in the first quarter of 2023. Analysts were expecting less than half!
Recovery of the Chinese market
And the future looks very promising for the group. The Chinese market, which is crucial for the luxury sector, is picking up again. The lifting of covid restrictions and the authorization to travel again are boosting consumption in the Middle Kingdom. The Chinese are still expected to prefer domestic purchases until the end of 2023. But the outlook is still bright, with a return of Chinese tourism to the international market expected in 2024.
This explains this new stock market boom for LVMH…
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Read also >LVMH reports strong rebound in China, slowdown in U.S. in first quarter
Featured photo : © LVMH
