- Don-Alvin Adegeest |
Luxury groups have started the new decade on a high note.
In France, LVMH and Hermès recorded their highest stock value this week. The Louis Vuitton group, which is led by Bernard Arnault, recorded a share price of 423.5 euros, then remained around this quota which capitalised the business at 213 billion. This is up from January 2nd when the French luxury giant opened at 419 euros.
Hermès also hit a record at 691 euros at the start of trading. The stock had a 3 percent gain compared to the 671 of the opening on January 2nd.
Kering also recorded its all-time high at the start of the new year, closing trading on January 3rd with a share price of 600 euros.
The impression is that the French luxury houses have managed to offset any profit losses resulting from tensions in Hong Kong, trade disputes between America and China and military escalation in the Middle East.
In Italy, the value of stocks at luxury brands Moncler, Cucinelli and Ferragamo also rose in 2020, as did UK’s Burberry, although none surpassed their previous historic highs.
Photo via Louis Vuitton website