French fashion wins!
Luxury company LVMH has crossed France’s wine exports with its designer goods. Louis Vuitton and Dior are leading brands for LVMH, which accounted for 4% of France’s exports in 2023, compared to the wine sector’s 3.2%. This dominance shows how important luxury fashion is to France’s economy.
LVMH alone exported €23.5 billion EUR worth of designer goods last year. LVMH has a strong global presence, with nearly 40% of sales coming from Asia and 25% coming from the U.S. Despite economic challenges, LVMH continues to grow in Europe, Asia, and Japan. This shows the enduring appeal of the prestigious brands under the LVMH umbrella.
The recent addition of Arnault’s children to the board of directors shows a commitment to maintaining LVMH’s reputation as France’s top luxury group.
