[imagesource:luxity]
Luxury goods giants such as Louis Vuitton, Moët & Chandon, and Hennessy as well as brands including Givenchy, Bulgari and Sephora stores have recorded a 17% increase in first-quarter sales for 2023, and in a large part, this is the result of the East easing their Covid related restrictions on travel.
The Paris-based firm has said it is set to benefit from China’s Covid reopening as the return of travel brings back high-end spenders.Richemont, Burberry, and Kering.All this spending on pretty dresses and gold handbags means that LVMH CEO Bernard Arnault is now the richest man alive, with a cushy net worth of $240 Billion . His empire includes fashion, jewellery, and alcohol, including TAG Heuer, and Dom Pérignon.
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