1 March 2024

Luxury Rebounds - For Belloni, LVMH's rebounds are inevitable

LVMH ‘s rebounds are inevitable. And if one of his top managers says it, you have to believe him. Twin Towers (2001), great financial crisis (2008), terrorism (2014/15), Covid (2020) and now war (2022). Not only have none of the tragedies of the 21st century slowed down the largest luxury group, but rather this has always accelerated the pace of growth from time to time. Toni Belloni, who joined LVMH in 2001 and is now its general director, cannot explain how this was possible. Speaking to Il Giornale, he takes it fatalistically: “That’s the way the world goes.” Report by La Conceria.

LVMH’s rebounds are inevitable

LVMH certainly does not consider its expansion projects finished. On the contrary. The holding company headed by the Arnault family has not hidden its plans for ” grandeur “. Indeed, they say they are on the hunt for brands capable of lasting ” for centuries “. But, in the meantime, how was such growth in volumes and margins possible in three such complex decades? Belloni really doesn’t know the answer.

In correspondence with each crisis “the market has had a setback – he acknowledges –, however showing vitality and recovering in the short term. In 2008/09 there was a global decline of 10% followed two years later by double digit growth. In 2020 we had many difficulties with Covid to bounce once again into the double digits before settling down again. ” Ok, but how did LVMH do it? “That’s the way of the world.” In other words, sometían inevitable.

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